Azerbaijan Oil Sector Sees Steady Production, Crude Oil Decline

Azerbaijan's oil and gas sector has seen mixed results in the first seven months of this year. According to data from the State Statistical Committee, total production value remained steady at AZN 23,490 million compared to the same period last year.

However, crude oil and natural gas production accounted for a significant share of the total figure, amounting to AZN 20,833.9 million. This represents a 1.5% decrease from the previous year.

The sector's main product, marketable oil, saw a decline of 3.1% compared to last year, while natural gas production increased by 1%. The volume of crude oil and natural gas produced was 15,543.3 thousand tons and 22,777.3 million cubic meters respectively.