Azeri State Firm SOCAR Reduces Oil and Gas Output

Azeri state energy company SOCAR reduced oil production to 712,300 tonnes in January from 715,880 tonnes a year ago, a source at the firm said on Wednesday.

The source, who did not want to be named as he was not authorised to talk to the press, said natural gas output declined to 570,200 million cubic metres (mcm) in January this year from 598,000 mcm in January 2014.

He did not give a reason for decline.

SOCAR increased oil production to 8.4 million tonnes in 2014 from 8.3 million in 2013, and its natural gas output rose to 7.2 billion cubic metres (bcm) from 7.1 bcm.

Reporting by Nailia Bagirova