State Oil Co. of Azerbaijan produced 8.4 million metric tons of oil last year, down from 8.46 million tons the previous year, First Vice President Xosbaxt Yusifzada told the state-run Respublika daily in a report yesterday.
The company, based in Baku, pumped 7.1 billion cubic meters of natural gas, from 7.17 billion, Yusifzada told the daily.
Azerbaijan, the third-largest oil producer in the former Soviet Union, expects output of 45.45 million tons this year, after 45.4 million tons last year. Gas production will grow by 10 percent to 28.28 billion cubic meters, Yusifzada said.
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