MassiveIndustry

(Fri, 24 Jun 2016) Azerbaijan is one of the world?s oldest oil producers, and oil and natural gas production and exports are central to Azerbaijan's economy. Azerbaijan?s oil production has been relatively stable over the last few years, but oil revenues declined about 40% from 2014 to 2015 due to lower oil prices. Natural gas production and exports will increase significantly in the coming years as the Stage 2 development of the Shah Deniz natural gas and condensate field will more than double Azerbaijan?s natural gas exports by the end of the decade.