According to the State Statistical Committee of Azerbaijan, in 2014 Azerbaijan extracted 42,041,800 tons of oil and condensate. Production decreased by 3.2% against 2013, reported the Committee.
The Committee also reported that last year the country extracted 41,892,900 tons of oil and condensate. During a year the production decreased by 2.8%.
In 2014 the country extracted 29,419,300,000 cub.m. of gas (including technical gas, which was injected into the oil wells to maintain bed pressure) (growth by 0.7%). The volume of tank gas totaled 18,728,700,000 cub.m. (growth by 4.9%). Considering this, one can say that during 2014 10,689,600,000 cub.m. of gas was injected into the oil wells, burnt on the torches and etc.—0—
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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