Minister: Azerbaijan hasn’t received invitation to OPEC+ meeting
Baku, Azerbaijan, Oct. 30
By Azad Hasanli – Trend:
Azerbaijan has not received an invitation to the OPEC+ meeting, which will be held in Vienna on November 30, Azerbaijani Energy Minister Parviz Shahbazov told Trend Oct. 30.
The decision on the future of the agreement on reducing production by OPEC countries and partners, including Azerbaijan, will be made only in early 2018, although the issue will be discussed at the next meeting of the alliance on November 30.
It should be reminded that in December 2016 in Vienna, 11 non-OPEC countries, including Azerbaijan, agreed to curtail oil output jointly by 558,000 barrels per day. The agreement was signed for the first half of 2017. On May 25, OPEC member countries and non-OPEC parties, Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, and the Republic of South Sudan agreed to extend the production adjustments for a further period of nine months, with effect from July 1, 2017.
According to the Ministry of Energy of Azerbaijan, daily oil production in Azerbaijan amounted to 785,700 barrels in September, 733,000 barrels of which accounted for crude oil, and 52,700 barrels accounted for condensate.
Meanwhile, 627,000 barrels of crude oil, 52,700 barrels of condensate and 19,300 barrels of oil products were exported per day.
It should be noted that Azerbaijan produced 793,900 barrels of oil per day in January 2017, 776,400 barrels per day – in February, 733,300 barrels per day – in March, 781,100 barrels per day – in April, 785,300 barrels per day – in May, 793,700 barrels per day – in June, 796,700 barrels per day – in July, and 734,800 barrels per day in August.