Bank Of Baku

Azerbaijan to increase oil production in 2022-2023

Azerbaijan to increase oil production in 2022-2023
# 05 November 2021 12:48 (UTC +04:00)

It is forecasted that 34 830,3 thousand tonnes of oil will be produced in Azerbaijan next year, which is 0,71% more in comparison to the indicator of 2020, according to the draft law on the state budget of the Republic of Azerbaijan for 2022, APA-Economics reports.

According to the forecast, the increase of oil production in Azerbaijan will continue in 2023 and will be 35 752,7 thousand tonnes.

Although, a decrease is expected to be in oil production in Azerbaijan in 2024-2025. Thus, the mentioned indicator will be 35 672 thousand tonnes, and 35 672 thousand tones respectively.

 

 

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