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Azerbaijan won’t increase oil output

Azerbaijan won’t increase oil output Energy

Trend:

Azerbaijan intends to keep the oil production in 2016 at the 2015 level, head of the State Oil Company of Azerbaijan (SOCAR), Rovnag Abdullayev said in an interview with ANS TV channel.

He noted that the projects for increasing the production volume have already been suspended.

“The oil output in Azerbaijan won’t exceed last year’s level,” said Abdullayev.

SOCAR produced 8.16 million tons of oil in 2015, compared to 8.32 million tons in 2014. In total, 41.59 million tons of oil was produced in Azerbaijan in 2015, compared to 42.02 million tons in 2014, according to the company.

The country produced around 0.8 million barrels of oil per day in 2015 while the world export production stood at 95.71 million barrels per day.

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