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Share Price Information for BP (BP.)

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Share Price: 494.50
Bid: 494.40
Ask: 494.65
Change: -9.20 (-1.83%)
Spread: 0.25 (0.051%)
Open: 498.00
High: 499.60
Low: 491.95
Prev. Close: 503.70
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UPDATE 1-Azerbaijan's oil output seen down 4 pct in 2015

Wed, 11th Mar 2015 11:50

(Adds details, background)

BAKU, March 11 (Reuters) - Azerbaijan is likely to cut oilproduction by 4 percent to 40.3 million tonnes (806,000 barrelsper day) this year while keeping gas output unchanged, a seniorofficial at the state energy company SOCAR said on Wednesday.

"So far, we expect the same volumes of gas, but an increaseis possible," SOCAR's first vice-president, KhoshbakhtYusifzade, told reporters.

Crude oil and condensate production in Azerbaijan rose to3.7 million tonnes in January from 3.6 million tonnes in thesame 2014 month, the first monthly increase since 2013.

Crude oil and condensate production in Azerbaijan fell to41.9 million tonnes last year from 43.1 million tonnes in 2013,while gas output reached 29.2 billion cubic metres (bcm).

Falling output at the main Azeri, Chirag and Guneshli (ACG)oilfields operated by British major BP has been a causeof concern in Baku.

BP and its partner, Azeri state energy firm SOCAR, tried toease those concerns in 2013, saying production had stabilised.Total oil output rose in 2013 for the first time since 2011 butthe decline continued last year. (Reporting by Nailia Bagirova; Writing by Vladimir Soldatkinand Margarita Antidze; Editing by David Evans)

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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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