Newsfeed

Eurovision-2015: Stefanie Topalian from Japan Has Become the 4th Member of the Band "Genealogy"

Paruyr Hayrikyan and Founding Parliament have disagreements

Attorney: Volodya Avetisyan is Determined to turn to the European Court of Human Rights

Brandy export from Armenia in 2014 down 1,2% thanks to devaluation of the Russian rouble

Armenians consume more vodka, overwhelmingly made in Russian

Zhirayr Sefilyan calls on Armenian public to stop paying fines for violation of traffic rules

Expert: The propaganda bluff cannot cast shadow upon the relations between the Jewish and Armenian peoples

Further cooperation of Armenian National Congress with Prosperous Armenia Party depends on the latter's plans: MP

Heritage Party leadership not to attend March 1 rally of Armenian National Congress

Congresswoman Judy Chu Commemorates Anti-Armenian Massacres

Another Armenian killed in shelling in Aleppo

South Dakota becomes the 43rd state to recognize the Armenian Genocide

Amnesty International says Armenia's law enforcement did not conduct effective investigation in Shant Haroutiunyan case

Activist faces indictment in Gyumri, Armenia

In 2015 Beeline intends to enlarge its customer base in Armenia by expanding the spectrum of its services and enhancing the service quality and price affordability

ISO/IEC 27001:2013 Information Security Management System implemented by VivaCell-MTS

"Ameria" Has Launched a Project for the Development of Small-Scale Gardening in Armenia

ACBA-Credit Agricole Bank expanding regional network with new branch

Expert: Armenia and EU not likely to sign any document at Riga Summit

Iraqi Airways to make first Baghdad-Yerevan-Erbil flight

Yerevan, February 26. ArmInfo. Marianna Mkrtchyan.ason Katz says United States supports Armenia to disadvantage of its allies Azerbaijan and Georgia

Another parliamentarian leaves Prosperous Armenia Party Faction

Ayb School and VivaCell-MTS have summed up the results of their cooperation

PSRC: Armenia negotiating with Russia to maintain gas tariff

Armenian Parliament Speaker gives one more chance to Gagik Tsarukyan

On the eve of spring, Orange presents new good surprises for internet and voice customers

Arthur Ashughyan: Future of lapidary industry depends on how competitive and efficient it is

Political expert: One should not expect serious internal political processes on Mar 1

Political expert: US State Department's calls to set free Azeri raiders will receive no response

Prosperous Armenia to convoke extraordinary congress on Mar 5

Cavusoglu: Armenia has failed test of sincerity

Parliamentary majority turn down the opposition's draft statement on crisis in governance

Richard Giragossian: The success of the talks with Brussels much depends on reliability and ability of the Armenian government

Baku may change its mind at the last moment and attend Euronest PA session in Yerevan, Armenian MP says

Ivica Dacic sees deterioration of situation in Karabakh and slackening of peace negotiations

Traian Hristea says 2015 will see new level of Armenia-EU cooperation

Avaz Hasanov: OSCE MG, Russia, EU, or U.S. can impose no pressure upon Armenia and Azerbaijan in the matter of Karabakh

Nikol Pashinyan demands that NKR authorities should punish the policemen who beat Founding Parliament's members

Ex-Prime Minister: Amid statements on SME development, decision to reduce number of banks in Armenia is sheer mockery

Ameriabank wins four nominations of Best Exchange Members of 2014 awards

Central Bank forecasts slowdown in salary growth rates in Armenia

UN Secretary-General and OSCE Chairman-in-Office Discussed the Situation in Nagorno Karabakh

Hot debates over ANC's project "On crisis in government system" in Armenian Parliament

Beeline announces the change of payment days for account charges and blocking of numbers for postpaid mobile subscribers

ACBA-Credit Agricole Bank increases the number of its offices

Prosperous Armenia Party prepares for extraordinary congress in early March and promises to make unexpected decisions

Ecologists and Villagers are Discontent with the Akhtala Ore Mining Plant’s Plans on Building a New Tailing Dump

Central Bank forecasts 30% decline of personal transfers in 2015

U.S. Department again urges Armenia to free Azerbaijani raiders

Eurovision-2015: VaheTilbian from Ethiopia has becomethe third member of the band "Genealogy"

In 2012 Azerbaijan's oil production declined, oil incomes went down

  • Friday, January 18, 13:16

Baku. Turan agency's analysts believe that Azerbaijani President's statement at the government's session was more positive, than reality itself. In 2012 the country faced many problems and some goals have not been achieved. Therefore, it would have been better to speak about the problems and inform the society about the forthcoming tasks for year 2013. However, neither President of State Oil Company of Azerbaijan (SOCAR), nor chairman of Board of Azerenerji company or President of the newly-created State Company for Renewable Power was given a word at the session. Instead President has briefly described everything for them.

He did not say how much oil and gas was produced in the country. Oil production went down against 2011. According to the statement made by SOCAR President in December 2012, the country produced 43.9 million tons of oil and the oil production went down by 1.7 million tons. According to the SOCAR statistics (during 11 months, 2012), the oil production did not exceed 43 million tons and the production decline totaled 2.6 million tons.

On the other hand, the main problem in 2012 was a very high pace of production decline on the Azeri-Chirag-Guneshli (ACG) offshore oil fields. At the government session in October 2012

               President accused BP company of the production decline and the country's losses that exceeded $8 billion during several years. However, after three months everything has changed. What has happened? If everything is so good, then why the ACG consortium's budget has not been approved by the Managing Committee yet? The reason is that the sides have not made a decision on the program of the forthcoming operations and the costs. If this is a case, then how can production on ACG stabilize in 2013? New operation wells have not been drilled yet. Putting of the new wells into operation will take minimum 4-5 months and during this period the production will inevitably decline on the contract area.

               The State Agency for Alternative Power was established in the country under the Ministry of Industry and Energy in 2009. On June 1, 2012 the second state company was created in the country on the basis of the agency. However, its regulations have not been approved yet. In 2012 the agency created the hybrid park, but it cannot launch it, because of the problems with Azerenerji company, the state monopolist of power distribution and transportation. Azerenerji builds small hydraulic power stations, which belong to the alternative types of power.

In 2012 Azerbaijan's oil incomes started going down. The information about oil revenues is not available. However, we know that they went down by about $3 billion against 2011.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields