AZERBAIJAN : SOCAR oil output down 1.1% y-o-y in Q1

The State Oil Company of Azerbaijan (SOCAR) produced 2.191 million metric tons of oil (16 million bbl) in January-March, a 1.1% decline year-on-year, the company said Friday.

Oil output was 8.994 million tons (180,000 bbl/d) in 2006, the company said in a news release. Over 2.001 million tons was refined in the first three months of 2007, up 2.1% year-on-year.

Azerbaijan produced 2.238 billion cubic meters of natural gas in the first quarter of the year, which is 35.3% more than in the same period last year.

In 2006, gas output stood at 6.825 billion cu m.