Bank Of Baku

Azerbaijan reduces oil production 7.5%

Azerbaijan reduces oil production 7.5%
# 13 June 2012 09:51 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Azerbaijan has produced 18.5 mln tones of oil in January-May, 2012, down 7.5% compared to last year, the State Statistical Committee told APA.

Note that, Azerbaijan intends to increase oil production n the next 4 years. Thus, it is expected to produce 45,977.1 thousand tonnes of oil in 2012, 45,896.6 thousand tones of oil in 2013, 49,562.9 thousand tonnes of oil in 2014 and 50,956.6 thousand tonnes of oil in 2015.

So, after 4 years, Azerbaijan will hit 50.8 mln tonnes in oil production.
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