Azerbaijan Cuts Oil, Natural-Gas Exports in First 10 Months

Azerbaijan, the biggest oil producer in the former Soviet Union after Russia and Kazakhstan, reduced exports in the first 10 months of the year as output from the BP Plc-led Azeri-Chirag-Guneshli field declined.

The Caspian Sea nation exported 30.8 million metric tons of crude in January through October, a decline of 8.3 percent from the year-earlier period, the State Statistics Committee based in the capital, Baku, said by e-mail today.

BP lowered production from the field known as ACG by 12 percent in the first half of the year. Azeri President Ilham Aliyev said in October “grave mistakes” by BP led to the drop in output at the field, which provided 78 percent of the country’s total last year.

Azerbaijan also cut natural gas exports 5.2 percent to 5.23 billion cubic meters from January to October, the State Statistic Committee said. The country exports the fuel to Turkey, Georgia and Russia.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.