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Share Price Information for BP (BP.)

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Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
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Azeri oil exports decline 2 pct in Jan-Sept 2014

Wed, 15th Oct 2014 15:58

BAKU, Oct 15 (Reuters) - Azerbaijan's oil exports fell 2percent year-on-year in the first nine months of 2014, a sourceat the State Statistics Committee said on Wednesday, driven bydeclines at fields operated by BP.

The committee source said Azerbaijan exported 25.4 milliontonnes of oil, down from 25.9 million in the same nine months oflast year.

Falling output at the main Azeri, Chirag and Guneshli(ACG)oilfields has raised concerns in Baku.

BP and its partner, Azeri state energy firm SOCAR, have tried to calm those fears, saying production has stabilised.Total oil output grew last year for the first time since 2011.

Azerbaijan's oil and condensate output fell 2.2 percent to32.1 million tonnes in January-September this year from 32.8million in the same period in 2013, the source added.

Exports of oil via Russia through the Baku-Novorossiiskpipeline amounted to 763,594 tonnes in the nine months, downfrom 1.325 million.

Exports through the Baku-Supsa pipeline via Georgia rose to 3.187 million tonnes from 2.985 million, while exports throughBaku-Tbilisi-Ceyhan via Georgia and Turkey were 20.757 milliontonnes, down from 20.890 million.

Oil exports shipped by rail via Georgia rose to 719,265tonnes from 702,549.

BP said earlier this year that ACG oil production in 2014might be slightly lower than in 2013 as the company plannedmaintenance work at the Central Azeri and West Azeri platforms,halting operations for a couple of weeks.

It did not say when the work would start.

Output from ACG fell to an average of 656,000 barrels perday (bpd) in the first half of 2014 from 672,000 bpd in the sameperiod last year, although production in the first half wasstill higher than the average of 645,800 bpd produced in thefirst three months of the year, BP-Azerbaijan said in August. (Reporting by Nailia Bagirova; Writing by Margarita Antidze;editing by Keiron Henderson)

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