Azerbaijan’s First-Half Oil Exports Fell 4.8% From Year Earlier
(Bloomberg) -- Azerbaijan exported almost 14 million metric tons of crude and condensate in the first half of 2021, down 4.8% from a year earlier, the country’s Energy Ministry said in an emailed statement.
The Caspian Sea nation pumped 17.2 million tons of oil in the January-June period, a reduction of 369,100 tons from the previous year, the ministry said. The total comprised 11.4 million tons of crude produced from the Azeri-Chirag-Gunashli (ACG) block of fields in the Caspian Sea and 1.9 million tons of condensate pumped from the offshore natural gas deposit of Shah Deniz.
BP Plc leads both ACG and Shah Deniz.
Azerbaijan’s state energy company Socar produced 3.9 million tons of crude and condensate in the period, the ministry said without giving year-on-year comparison.
Socar’s Heydar Aliyev refinery in the capital, Baku, processed 3.3 million tons of oil in January-June, up by 276,300 tons.
Azerbaijan, the largest oil producer in the former Soviet Union after Russia and Kazakhstan, agreed to reduce crude production as part of an OPEC+ deal to help balance the market.
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