Azeri Oil Exports Decline in 2014

Azerbaijan's oil exports fell 1.8 percent year on year in the first eight months of 2014, a source at the State Statistics Committee said on Tuesday, driven by declines at fields operated by BP.

The committee source said Azerbaijan exported 22.788 million tonnes of oil, down from 23.155 million in the same eight months last year.

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 last year for the first time since 2011.

Azerbaijan's oil and condensate output fell 2.1 percent to 28.7 million tonnes in January-August this year from 29.3 million in the same period 2014, a source at the State Statistics Committee said last week, driven by declines at fields operated by BP.

Exports of oil via Russia through the Baku-Novorossiisk pipeline amounted to 678,728 tonnes in the eight months, down from 1.163 million.

Exports through the Baku-Supsa pipeline via Georgia rose to 2.823 million tonnes from 2.622 million, while exports through Baku-Tbilisi-Ceyhan via Georgia and Turkey were 18.651 million tonnes, down from 18.741 million.

Oil exports shipped by a rail via Georgia rose to 634,802 tonnes from 628,331.

BP said earlier this year that ACG oil production in 2014 might be slightly lower than in 2013 as the company planned maintenance work at the Central Azeri and West Azeri platforms, halting operations for a couple of weeks.

It did not say when the work would start.

Output from ACG fell to an average of 656,000 barrels per day (bpd) in the first half of 2014 from 672,000 bpd in the same period last year, although production in the first half was still higher than the average of 645,800 bpd produced in the first three months of the year, BP-Azerbaijan said last month.

(Reporting by Nailia Bagirova; Writing by Margarita Antidze; editing by Jason Neely)