During the first 9 months, 2013 Azerbaijan extracted 32.5 million tons of oil and condensate, reads the report of the Azerbaijan State Statistical Committee.
Oil production dropped by 0.91% or by 300,000 tons against the same period in 2012.
Table of oil production in Azerbaijan in 2013
| Months | Volume (thousand tons) |
| January | 3792,2 |
| February | 3393,0 |
| March | 3594,0 |
| April | 3521,8 |
| May | 3815,9 |
| June | 3687,0 |
| July | 3668,3 |
| August | 3643,1 |
| September | 3384,7 (Turan’s calculation) |
| Total | 32500,0 |
As one can see from the table, this year the oil production peak in Azerbaijan fell to May, when over 3.8 million tons or 911,000 barrels of oil a day was produced. Since that time oil production started declining rapidly. Since early year oil production in Azerbaijan went down by 1,098.9 tons a day or by 8,100 barrels. However, in September 2013 the average oil production in the country decreased by 8.3% against May and totaled about 835,000 barrels.
During 2012 oil production in Azerbaijan totaled 42.9 million tons, down 2.7 million tons against 2011.
A year ago the government submitted the draft of state budget for fiscal year 2013 for approval of parliament, when they planned that oil production will total 43.2 million tons. However, the results of three quarters show that this year 42.5-42.6 million tons of oil could be extracted at best.--0—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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