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OPEC records increase in Azerbaijan’s oil demand

Oil&Gas Materials 31 July 2023 14:28 (UTC +04:00)
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, July 31. Azerbaijan’s oil demand has increased by 1.9 percent year-on-year in 2022, Trend reports.

OPEC estimates that the country’s oil demand stood at 109,000 barrels per day (b/d) in 2022, as compared to 107,000 b/d in 2021.

The dynamics of oil demand in Azerbaijan in the previous years is as follows: 121,000 b/d in 2018, 123,000 b/d in 2019 and 106,000 b/d in 2020.

As such, the country’s oil demand has decreased by 9.9 percent as compared to 2018.

More than 65 percent of oil production in Azerbaijan account for the Azeri-Chirag-Gunashli block of fields.

BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement. ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).

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