Azerbaijan’s Oil, Natural-Gas Production Declined in January

Azerbaijan, the largest oil producer in the former Soviet Union after Russia and Kazakhstan, pumped less crude and natural gas last month.

The Caspian Sea nation produced 3.8 million metric tons of oil in January, down 3.1 percent from a year earlier, the State Statistics Committee based in the capital, Baku, said today on its website. Production of marketable gas fell 4.7 percent to 1.5 billion cubic meters, it said, without giving a reason for the decline.

Azerbaijan’s oil output dropped to 43 million tons for a second year in 2012 as its largest deposit -– Azeri-Chirag-Guneshli, which is led by BP Plc -– cut production. The country increased production of marketable gas last year 5.4 percent to 17 billion cubic meters, the State Statistics Committee said Jan. 17.

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