Socar Says Crude, Natural-Gas Production Declines Through July
State Oil Co. of Azerbaijan, also known as Socar, pumped less oil and natural gas in the first seven months of 2012 from a year earlier.
Oil production declined 2.5 percent to 4.79 million metric tons, and gas output fell 3.4 percent to 3.99 billion cubic meters, the Baku-based energy producer said on its website today. No reason was given for the decline.
Last year, Socar, which is fully owned by the Azeri government, produced 8.4 million tons of oil and 7.1 billion cubic meters of gas, down from 8.5 million tons of oil and 7.2 billion cubic meters of gas a year before.
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