The US Energy Information Administration (EIA) predicts a further decline in oil production in Azerbaijan - if last year it averaged 890 thousand, this year it is expected to be 870,000 and in 2017 - 860 thousand barrels per day.
According to the forecast published in the January short-term energy market review, from January to July 1, oil production will amount to 880 thousand and before the end of the year it will be 870,000 barrels per day.
Recall, the bulk of Azeri Light oil with a sulfur content of 0.15% is extracted from the block of offshore fields Azeri-Chirag-Guneshli (ACG).
The Contract of the Century on ACG was signed in 1994 with the primary equity participation of the operator BP at 35.78%.
According to BP, the proven oil reserves in Azerbaijan in January of last year amounted to 7 billion barrels. --17D-
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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