Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Socar of Azerbaijan Pumped Less Oil in First Two Months of 2013

Don't Miss Out —
Follow us on:

April 10 (Bloomberg) -- State Oil Co. of Azerbaijan, or Socar, pumped less crude oil and natural gas in the first two months of the year, reflecting a slump in total Azeri output.

Oil output at the national energy producer fell 1.2 percent from a year earlier to 1.35 million metric tons, the company said today on its website, without giving a reason for the drop. Gas output retreated 2.8 percent to 1.12 billion cubic meters.

Total oil volumes from the Caspian Sea nation, the largest crude producer in the former Soviet Union after Russia and Kazakhstan, fell 3.6 percent in the period, while output of marketable gas shrank 5 percent, the State Statistics Committee said March 15. Production also declined in 2012 and 2011.

Socar First Vice President Xosbaxt Yusifzada said last year that production had dropped because of aging wells. The Baku-based company holds a stake in BP Plc’s Azeri-Chirag-Guneshli oilfield, which cut production 7 percent in 2012.

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.