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Share Price: 515.80
Bid: 516.20
Ask: 516.40
Change: 6.40 (1.26%)
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Open: 508.50
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UPDATE 1-Azerbaijan 2016 oil, gas production to be steady around 2015 levels

Mon, 21st Sep 2015 12:07

(Adds details, background)

BAKU, Sept 21 (Reuters) - Azerbaijan expects to produce 40million tonnes of oil and 30 billion cubic metres (bcm) of gasin 2016, a senior official at state energy company SOCAR said,roughly steady compared with this year.

Azerbaijan plans to produce 40.7 million tonnes of oil and30.2 bcm of gas in 2015.

The official said 32 million tonnes out of 40 million tonnesof oil next year were expected to be produced at the main Azeri,Chirag and Guneshli (ACG) oilfields operated by Britain's BP.

Falling output at the ACG oilfields has been a cause ofconcern in Baku.

BP and SOCAR, its partner, tried to calm worries in 2013,saying production had stabilised. Total oil output rose in 2013for the first time since 2011, but the decline resumed in 2014.

Crude oil and condensate production in Azerbaijan fell to27.9 million tonnes in the first eight months of 2015 from 28.6million tonnes a year earlier due to declining output at the ACGfields.

Natural gas production fell to 19.1 billion cubic metres(bcm) in January-August from 20.1 bcm a year earlier due tolower output from SOCAR.

Crude oil and condensate production in Azerbaijan fell to41.9 million tonnes last year from 43.1 million in 2013. Naturalgas output was 29.2 bcm in 2014.

Oil production rose to 14.2 million tonnes in the first fourmonths of 2015 from 13.6 million a year earlier.

Output started to decline in May, however, as BP suspendedoperations at one platform in the Caspian Sea, West Azeri, forplanned maintenance on May 21 for 22 days. BP plans to suspendoperations at another platform - Chirag - for plannedmaintenance at the end of October for three weeks. (Reporting by Nailia Bagirova; Writing by Margarita Antidze;Editing by Susan Thomas)

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LONDON MARKET OPEN: BP jumps after unveiling share buyback

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LONDON BRIEFING: BP promises buyback despite drop in profit

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BP unveils $1.75bn buyback as 2023 profits halve on weaker oil price

(Sharecast News) - Shares in BP surged on Tuesday as the energy giant announced a $1.75bn share buyback despite a slump in annual profits as oil prices fell during 2023 from the spike caused by Russia's invasion of Ukraine.

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2 Feb 2024 17:12

LONDON MARKET CLOSE: Stocks mixed as US jobs data dashes rate cut hope

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BP appoints Kate Thomson as its permanent finance chief

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TOP NEWS: BP promotes Kate Thomson as permanent finance chief

(Alliance News) - BP PLC on Friday named Kate Thomson as its permanent chief financial officer, after being in the interim role since September.

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New UK oil and gas exploration licences approved in the North Sea

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UK earnings, trading statements calendar - next 7 days

Wednesday 31 January 
Aberforth Smaller Companies Trust PLCFull Year Results
abrdn Private Equity Opportunities Trust PLCFull Year Results
Ecora Resources PLCTrading Statement
GSK PLCFull Year Results
ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
Thursday 1 February 
Airtel Africa PLCTrading Statement
AG Barr PLCTrading Statement
BT Group PLCTrading Statement
Cranswick PLCTrading Statement
Gem Diamonds LtdTrading Statement
Glencore PLCTrading Statement
JTC PLCTrading Statement
Rank Group PLCHalf Year Results
Shell PLCFull Year Results
TClarke PLCTrading Statement
Friday 2 February 
YouGov PLCTrading Statement
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Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
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Alumasc Group PLCHalf Year Results
BP PLCFull Year Results
Filtronic PLCHalf Year Results
Mattioli Woods PLCHalf Year Results
Renishaw PLCHalf Year Results
Virgin Money UK PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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London close: Stocks turn weaker ahead of busy week for earnings

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