Markets

Azeri oil output slightly up

Published December 25, 2013 Updated December 25, 2013 06:12pm

1 min

By Muhammad Iqbal

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BAKU: Azerbaijan's oil and condensate output rose by 0.2 percent year on year in the January-November period to 39.5 million tonnes, the second rise since a drop in 2011, the State Statistics Committee said on Wednesday.

Falling output at the Azeri, Chirag and Guneshli (ACG) oilfields the biggest Azeri project and one of the largest globally for oil major BP has raised concerns in Baku.

Azeri energy company SOCAR and BP said in June oil output at ACG had stabilised.

In the January-October period the oil output rose for the first time since a drop two years ago.

Oil output at the ACG declined slightly to 663,200 barrels per day (bpd) in the first three quarters of 2013, from 684,000 bpd in the same period last year.

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