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BAKU, May 14 (Reuters) - Azerbaijan said oil and condensateoutput fell to 14.1 million tonnes in January-April 2014, down1.4 percent on the same period a year earlier, citing loweroutput at main oilfields Azeri, Chirag and Guneshli (ACG) as areason for the decline. The State Statistics Committee on Wednesday released thedata in a statement, but did not give separate figures for oiloutput at ACG. Production at the ACG last year fell 2.2 percent to 32.2million tonnes from 32.9 million. Falling output at the ACG oilfields, the biggest oilproduction project in Azerbaijan and one of the largest globallyfor oil major BP, have raised concerns in Baku. BP and its partner, state energy firm SOCAR, have tried tocalm those fears by saying last year that output had stabilised.Total oil production grew last year for the first time since2011. BP said earlier this year oil production at ACG might beslightly lower than in 2013 as the company planned maintenancework at the Central Azeri and West Azeri platforms, haltingoperations for a couple of weeks. The company did not say when the work would start. Azerbaijan has said its total oil and condensate productionrose 0.4 percent in 2013 to 43.1 million tonnes after two yearsof decline. Jan-Apr Jan-Apr Jan-Dec SOCAR 2014 2013 2013 estimate s for 2014 Oil + 14.1 14.3 43.1 41-44 condensate (mln tonnes) Total natural 10.2 9.4 29.2 27.0 gas (bln cubic metres) Natural gas 6.1 5.9 n/a n/a (for consumers) (bln cubic metres) (Reporting by Nailia Bagirova; writing by Margarita Antidze;editing by Keiron Henderson)
15 Apr 2024 11:56
LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions
(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.
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