Oil production in Azerbaijan in January-September 2016 amounted to 31 million 268.2 thousand tons, which is 0.3% less than the same period last year. This was in the monthly report of the State Statistics Committee of Azerbaijan.
According to the State Statistics Committee, the volume of commercial oil production in the country in January-September 2016 amounted to 31 million 221.9 thousand tons (decline by 0.3%).
Gas production in January-September 2016 was 22 billion 51.4 million cubic meters (3.8% growth). Output of marketable gas in the country during the reported period amounted to 13 billion 771.2 million cubic meters (1.6% decline).
In 2015, Azerbaijan's oil production, including gas condensate, amounted to 41 million 689 thousand tons, and the production of marketable gas was 19.72 bcm. -12D--
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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