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OIL: Azeri Oil Production Down 4.8% in Jan-Sept. on Year

OIL
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Azerbaijan produced 21.6m tons of crude and condensate in Jan-Sept 2024, according to the Energy Ministry, cited by Bloomberg.

  • Oil production was down from 22.7m tons over the same period in 2023.
  • Crude and condensate exports in Jan-Sept. 2024 were at 17.9m tons, compared to 19m tons over the same period in 2023.
  • Daily oil production in September was 78.7k tons, or 586kb/d, compared to 607kb/d in Sept. 2023.
  • The country’s largest oil deposit of Azeri-Chirag-Gunashli is in natural decline but Azerbaijan is making a concerted effort to boost its oil production next year according to President Ilham Aliyev last month.
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Azerbaijan produced 21.6m tons of crude and condensate in Jan-Sept 2024, according to the Energy Ministry, cited by Bloomberg.

  • Oil production was down from 22.7m tons over the same period in 2023.
  • Crude and condensate exports in Jan-Sept. 2024 were at 17.9m tons, compared to 19m tons over the same period in 2023.
  • Daily oil production in September was 78.7k tons, or 586kb/d, compared to 607kb/d in Sept. 2023.
  • The country’s largest oil deposit of Azeri-Chirag-Gunashli is in natural decline but Azerbaijan is making a concerted effort to boost its oil production next year according to President Ilham Aliyev last month.