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Azerbaijan exceeds oil production forecast for 2015

Azerbaijan exceeds oil production forecast for 2015

International Energy Agency: This year global oil demand is forecast to be 97.8 million barrels (19 January 2017 18:46)
OPEC lowers oil production in December (18 January 2017 17:46)
IMF maintained its forecast for global growth in 2017 of 3.4 percent (16 January 2017 21:46)

Date: 15 January 2016 12:47

Baku, Azerbaijan, Jan. 15

By Maksim Tsurkov – Trend:

Azerbaijan produced 41.6 million tons of oil in 2015, which is 2.2 percent more than the projected figures, Azerbaijani Energy Minister Natig Aliyev’s article published in the official press said Jan. 15.

“The projected index was 40.7 million tons of oil in 2015,” the article said.

"SOCAR (the State Oil Company of the Azerbaijan Republic) produced 8.2 million tons of oil,” the article said. “The daily production is 120,000 tons of oil in the country."

Azerbaijan produced 42.4 million tons of oil in 2014. Thus, oil production reduced by 1.2 percent in 2015 compared to 2014.

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