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Share Price: 488.15
Bid: 487.80
Ask: 488.10
Change: 2.90 (0.60%)
Spread: 0.30 (0.062%)
Open: 485.25
High: 488.80
Low: 485.20
Prev. Close: 485.25
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UPDATE 1-Azeri oil exports down 3.5 pct in 2014, led by falls at BP

Fri, 16th Jan 2015 14:23

(Adds details)

BAKU, Jan 16 (Reuters) - Azerbaijan's oil exports dropped3.5 percent in 2014, a source at the State Customs Committeesaid on Friday, driven by falls at fields operated by BP.

The source said Azerbaijan exported 33.04 million tonnes ofoil last year, down from 34.25 million in 2013.

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 in 2013 for the first time since 2011.

But the decline resumed last year. Output from ACG oilfieldsfell to 24.2 million tonnes, or an average 655,700 barrels perday (bpd) in January-September 2014 from 663,200 bpd in the sameperiod of 2013 and 656,000 bpd in the first half of 2014,BP-Azerbaijan said in November.

BP started maintenance at the Central Azeri and West Azeriplatforms on Oct. 31, halting operations for a month, in a movethat could further reduce oil output in the country. Productionresumed on Nov. 27.

Azerbaijan's oil and condensate output fell 2.8 percent to41.9 million tonnes last year from 43.1 million tonnes in 2013.

Exports of oil via Russia through the Baku-Novorossiiskpipeline amounted to 1.02 million tonnes in 2014, down from 1.75million tonnes.

Exports through the Baku-Supsa pipeline via Georgia rose to 4.232 million tonnes from 4.028 million, while exports throughBaku-Tbilisi-Ceyhan via Georgia and Turkey were 26.8 milliontonnes, down from 27.5 million tonnes.

Oil exports shipped by rail via Georgia declined to 918,508tonnes from 991,992. (Reporting by Nailia Bagirova; Writing by Margarita Antidze;Editing by Dale Hudson)

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