In long term oil production by OPEC will increase by 7 million barrels a day and will reach 44 million barrels a day by 2035, reads BP Energy Outlook.
BP report reads that OPEC increases oil production, but tries to maintain its market share at about 40%.
According to BP forecasts, world demand in liquid hydrocarbons will increase by 20 million barrels a day up to 112 million barrels a day by 2035.
According to OPEC forecasts, during this period oil deliveries by the non-OPEC member-states will increase by 11 million barrels a day.
According to the International Energy Agency (IEA), in April 2016 world oil supplies increased by 250,000 barrels a day up to 96.2 million barrels a day.
According to IEA estimates, last month oil extraction by OPEC increased by 330,000 barrels a day up to 32.76 million barrels a day.—0—
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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