Azeri 2012 Oil Exports Slide on Lower Output, Gas Shipments Drop

Azerbaijan exported less crude oil in 2012 as the Caspian Sea nation cut production for a second year. The country also delivered less natural-gas overseas.

The largest oil producer in the former Soviet Union after Russia and Kazakhstan shipped 34.9 million metric tons, down 6.7 percent, according to data published on the website of the State Customs Committee. Exports of natural gas declined by 1.4 percent to 6.99 billion cubic meters, the data showed.

Azerbaijan produced 43 million tons of oil in 2012, a drop of 5.3 percent, the committee said Jan. 17. Output of marketable natural gas expanded 5.4 percent to 17.2 billion cubic meters.

The country exports gas to Turkey, Russia and Georgia.

Before it's here, it's on the Bloomberg Terminal.