OPEC Forecasts Azerbaijan’s Oil Export Quarter Increase in 2008
Azerbaijan, Baku, 16 June / Trend corr A. Badalova / Oil supply in Azerbaijan is expected to grow by 200tb/d over 2007 to reach a level of 1.06mb/d in 2008. Most of this year's growth is expected to come from East Azeri and Guneshli, mentioned by the June report of OPEC which was placed on cartel's official website.
The biggest volume of growth of export of Azeri Light oil being produced on Azeri-Chirag-Guneshli fields operated by BP will be recorded in the fourth quarter of 2008 - 1.13mln barrels. OPEC forecasts volume of Azeri Light supplies at 1.08mln barrels per day in the third quarter.
In 2007, Azeri Light export grew by 0.21mb/d to 0.86mb/d by 2006 (42.82mt/year).
According to OPEC, in 2008, oil export from non-OPEC countries will averagely rise by 0.69mb/d to 50.13mb/d. Most volume of oil supplies will occur in the 4th quarter of 2008 - 51.12mb.
OPEC forecasts reduction of OPEC oil supply by 0.29mb/d to 19.87mb/d in 2008 as compared to 2007. FSU supply will ascend by 0.36mb/d to 12.88mb/d in 2008.
In 2007, FSU oil supply totalled 12.52mb/d. OECD supply comprised 20.16mb/d.
Non-OPEC oil supply increased by 0.56mb/d in 2007 as compared to previous year and totalled 49.43mb.
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