Socar Oil, Natural-Gas Output Fell in First Five Months of Year
State Oil Co. of Azerbaijan, the Azeri energy producer known as Socar, pumped less oil and gas in the first five months of 2012 than a year earlier.
Oil production fell 2.6 percent to 3.4 million metric tons, while gas output slid 2.8 percent to 2.86 billion cubic meters, the Baku-based company said today on its website, without giving a reason. Socar officials previously attributed falling oil production to increased safety measures at the BP Plc-led Azeri- Chirag-Guneshli field after the Gulf of Mexico oil spill.
The state energy producer pumped 8.4 million tons of oil and 7 billion cubic meters of gas last year, down from 8.46 million tons of oil and 7.2 billion cubic meters of gas a year earlier.
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