BAKU, Azerbaijan, April 24
By Leman Zeynalova – Trend:
Azerbaijan’s Energy Ministry has recommended all oil producers in the country, as well as Azerbaijan International Operating Company (AIOC), including BP to cut the daily oil production from May 1, the ministry said in response to Trend’s question.
The oil producers were recommended to reduce their output in accordance with the percentage of reduction of the daily crude oil production from October 2018 levels and taking into account the output volume of the oil producers, said the ministry.
The Energy Ministry recalled that Azerbaijan’s daily oil production was 718,000 barrels in October 2018.
“Azerbaijan has committed to reduce its daily production by 23 percent (164,000 barrels) from May through June 2020, 18 percent (131,000 barrels) from July through December 2020 and 14 percent (98,000 barrels) from January 2021 through April 2022,” the ministry said.
Trend contacted BP Azerbaijan on the matter, however, the company declined to comment.
“For now, we won’t be commenting on this,” said the company.
Moreover, Ibrahim Ahmadov, deputy head of the public relations and events department at Azerbaijan’s state oil company SOCAR told Trend that the decision on output cut will not be taken by SOCAR, but by relevant government agencies and the company will fulfill the government’s decision.
Earlier, four sources told Reuters that Azerbaijan’s BP-led Azeri-Chirag-Guneshli (ACG) project will have to cut output sharply from May for the first time ever as the country moves to meet its commitment under a global deal to cut production.
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