Oil & gas news

JOINT VENTURES HIKE OIL OUTPUT BY 10%

Joint oil and gas producing ventures produced 182,445,000 tons of oil and 24,955,000 cubic meters of gas in the first quarter of 2002. The oil and gas production volume rose by 8.7% to 2001, according to a SOCAR source.

Over-fulfilling the plan were Anshad Petroil, which produced over 10972.5 tons of oil (43.4% over the plan), Salyan Oil - 75,843.3 tons (12.4%) and Azgerneft - 10932.8 tons (5.1%). Last year Anshad Petroil over-fulfilled the projection by 6.4% and Salyan Oil by 20.6%, while Azgerneft failed it by 3.5%. Failing the quarter's oil output plan by 3.1% and 10.8%, Karasu and Shirvan Oil operating companies increased their production marks to last year with 100.7% and 102.4% respectively.

In gas production, Salyan Oil fulfilled the plan by 33%, Shirvan Oil 14.5%, while Anshad Petroil under-fulfilled by 22.4%, Karasu 28% and Azgerneft 48.6%. A total of 333,935,000 cubic meters of gas offshore.

Offshore gas plan failed by 12,565,000 cubic meters

Offshore oilmen failed the gas plan by 12,565,000 cubic meters, or 5%, in March, according to a SOCAR source.

The shortage came after the biggest gas supplier, 28 May oil and gas production unit under-fulfilled the plan, producing 182,698,000 cubic meters of gas, or 95.9% of the projection. Also coming short with the plan was Gum Adasi, which extracted 49,200,000 cubic meters of gas (90.1%). Two of the oil and gas production units increased the plan targets, as Bulla Daniz produced 49,134,000 cubic meters of gas (100.3%) and the Narimanov unit - 45,400,000 cubic meters. The share of the other two units in total output is not considerable though Absheronneft extracted 3,103,000 cubic meters (3.4% over the plan), while Neft Dashlari fulfilled the plan to 100%.

625 TONS OF OIL PRODUCED OFFSHORE IN MARCH

624,672 tons of crude, or 100.6% of the plan, were produced offshore in March, a SOCAR source said Wednesday. Over-fulfilling the projection were 28 May oil and gas production unit by 0.4%, which extracted 2,000 tons more, Neft Dashlari 1.1% (755 tons) and Absheronneft 5.4% (725 tons).

Among other oil and gas production units fulfilling the plan are Gum Adasi (13600 tons of oil), the Narimanov (24500) and Bulla Daniz (6802 tons).

SALYAN OIL EXTRACTS 3,000 TONS ABOVE PLAN

Salyan Oil produced 2,954,744 tons of oil more than the plan in March of this year, a SOCAR source told AssA-Irada Wednesday. In all, the company extracted some 26,205,000 tons of crude, or 112.7% of the plan.

Also over-fulfilled the projection were Anshad Oil, 1088 tons more against the plan of 3718 tons (141.4%) and Azgerneft joint venture - 470 tons against 4060 tons (113.1%).

Karasu operating company and Shirvan Oil joint venture failed the plan, as the former produced 463 tons of crude, or 4% short of the plan, and the latter 2365 tons, 11.7%. Karasu extracted 10,977 and Shirvan Oil 17,914 tons of oil.

190,893,000 TONS OF OIL PRODUCTS EXPORTED

A total of 868,012,000 tons of crude were dispatched to the Russian port of Novorossiysk in the first three months of 2002, including 250,000 tons in March, according to the foreign economic relations department of SOCAR.

The department exported 190,893,000 tons of oil products in the three months, 75,439 tons in March, involving 14,852,000 tons of automobile gasoline, 41,734,000 tons of diesel fuel, 13,934,000 tons of aviation kerosene, 203 tons of butane, and 4,175,000 tons of coke.

SOCAR TRANSFERS AZM286 BN TO BUDGET

SOCAR transferred AZM286 billion in taxes to the state budget in the three months of 2002. Government prognoses put the figure at AZM348.6 billion, but SOCAR fulfilled the plan by 82%.

AZNEFTYAG EXPORTS 155,809 TONS OF OIL PRODUCTS

Azneftyag production association of SOCAR exported 407,504 tons of oil products totaling $44.5 million in the first quarter of 2002, including $18.9 million worth of 155,809 tons in March.

Among the exports are 54,408 tons of diesel fuel, 168.1 tons of motor fuel DT, 249.6 tons of bitumen, 420.6 tons of motor oil OKA, 109.1 tons of oil M-14V2, and 100,457 tons of heating oil.

ONSHORE OIL OUTPUT DOWN IN FIRST QUARTER

All oil and gas production units, excluding larger Muradkhanli field, which has been returned to SOCAR recently and Balakhanineft unit that maintained the production level over 2001, decreased onshore oil output in the first quarter of 2002 to last year, a SOCAR source told AssA-Irada Friday. Siyazanneft fulfilled the plan to 79.7%, Amirov to 84.9%, Surakhanyneft 86.7%, Binagadyneft 89.6%, Bibiheybatneft 91.2% and Taghiyev 94.2%.

Totally, over 201,209 tons of oil were extracted onshore by these units over the first quarter of this year. The units produced a total of 68,888 tons of oil onshore in March of 2002 that made up 105.1% of the plan. All the units over-fulfilled the plan, as Siyazanneft, Muradkhanli and Binagadineft fulfilled the plan by 100%, while the rest over-fulfilled the onshore oil output.

INTERNATIONAL QUOTING OF OIL PRICES

International quoting for oil export in March of 2002 was the following: ethyl gasoline - $220.95 a ton, non-refined petrol - $204.80, aviation gasoline - $198.61, diesel - $182.84 and sulfuric heating fuel - $119.08. Brent (DTD) crude reported $23.73 a ton and a Ural (MED) crude barrel $22.07.