BAKU, Azerbaijan, March 14. In February 2024, Azerbaijan's oil production reached 0.48 mb/d, Trend reports.
According to data from the International Energy Agency (IEA), during this period, the country fell short of its production quota of 0.55 mb/d by 0.08 mb/d.
Simultaneously, the report highlights that Azerbaijan's oil output in February 2024 increased by 0.01 mb/d compared to January 2023 (0.47 mb/d).
Meanwhile, according to the operational data provided by the Ministry of Energy of Azerbaijan, from January through February 2024, the country's oil-condensate production stood at 4.8 million tons, while exports totaled 3.9 million tons.
In 2023, Azerbaijan produced a total of 30.19 million tons of oil and condensate, marking a 7.5 percent decrease from the previous year's figures in 2022.
For the year 2024, a production target of 29.5 million tons has been set.