BAKU, Azerbaijan, March 11
By Leman Zeynalova – Trend:
For 2020, oil production in Azerbaijan is forecast to decline by 0.01 million barrels per day (mb/d) to average 0.77 mb/d, Trend reports with reference to OPEC’s March Monthly Oil Market Report (MOMR).
This is while in its February MOMR OPEC expected Azerbaijan’s oil output to grow by 0.01 million barrels per day.
Azerbaijan’s liquids output in January 2020 remained unchanged m-o-m, to average 0.79 mb/d, lower by 0.04 mb/d y-o-y, according to the cartel’s estimates.
Crude oil production in January was pegged at 665,000 b/d, lower by 2,000 b/d m-o-m and 46,000 b/d, reads the report.
For 2019, Azerbaijan’s oil production is estimated to have declined by 0.02 mb/d to average 0.79 mb/d, said OPEC.
The daily oil production in Azerbaijan amounted to 750,600 barrels (667,400 barrels – crude oil, 83,200 barrels - condensate) for February 2020.
Of the total mentioned amount, export of produced crude oil amounted to 530,300 barrels, while export of condensate, and oil products amounted to 79,600 barrels and 12,400 barrels, respectively.
Azerbaijan has fulfilled its obligations to the OPEC, to maintain daily oil production in the amount of 769,000 barrels.
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