[NTBKtrader]

BAKU. Oil production in Azerbaijan reached 477.2 thousand tonnes in Azerbaijan in the I half of 2006, which is 51.3% more than in 1H 2005, Azerabaijani state statistics committee said.

Out of the total volume of oil production 3 million 906.5 thousand tonnes were produced by the SOCAR (2.1% less), 10 million 570.7 thousand tonnes by the private sector (growth by 89.5%.)

http://eng.gazeta.kz/art.asp?aid=78110

[mekrob]

The North Sea is down 10%. Burghan 10%. Ghawar will soon slip after 7urais peaks. Cantarell is about to collapse. US Gulf is set to peak. But hey, Azerbaijan increased last year. Whew, I was starting to get scared by looking at all of those major producers declining, not the tiny ones increasing.

[FireJack]

Checked the cia factbook and Azerbaijan is apparently a former soviet state, so increasing thier oil production is nothing major.

Of course like most former soviet countries corruption is rife so all the extra money from oil will benifit few and leave the rest destitude. If something good happens and somehow corruption is kept under control it will be one of the few places where living standards will increase in the near future I bet.

[Russian_Cowboy]

$this->bbcode_second_pass_quote('FireJack', 'C')hecked the cia factbook and Azerbaijan is apparently a former soviet state, so increasing thier oil production is nothing major.

Of course like most former soviet countries corruption is rife so all the extra money from oil will benifit few and leave the rest destitude. If something good happens and somehow corruption is kept under control it will be one of the few places where living standards will increase in the near future I bet.

[Doly]

$this->bbcode_second_pass_quote('Russian_Cowboy', 'A')zerbaijan is also known to have started producing and selling oil over 250 years ago.

[mekrob]

$this->bbcode_second_pass_quote('', 'W')hat did they use oil for 250 years ago?

[Russian_Cowboy]

$this->bbcode_second_pass_quote('mekrob', '')$this->bbcode_second_pass_quote('', 'W')hat did they use oil for 250 years ago?

[eastbay]

Azerbaijan oil was produced hundreds of years ago by basically scooping it off the ground where it freely flowed. That was VERY low hanging fruit.

As an aside, tribes of ancient Zoroastrians lived there burning the readily available oil as a religious point of focus. Their fire temple ruins are found throughout southern Azerbaijan.

[NTBKtrader]

and there we have it Zorastrians discovered oil as well as monotheism.

[eastbay]

Well, they may have been among the first to USE oil, that's for sure. Heh...

[pup55]

Azerbaijan Production Forecast

I would say that their production is going along a little ahead of schedule, according to Unocal's chart, above.

By 2010, Hubbert will take over. Maybe the speedier production will result in a speedier decline on the other side.

Also, apparently, this is one of the world's nastiest places re: human rights, dictatorship, supression of women, etc. etc.

[mekrob]

$this->bbcode_second_pass_quote('', 'A')lso, apparently, this is one of the world's nastiest places re: human rights, dictatorship, supression of women, etc. etc.

[NTBKtrader]

I think you are smoking crack if you think human rights will get better 'once the oil is gone'. no offense...

[mekrob]

No, I said I hope, not think so. Their money and protection that they get from oil stifles any attempt at growth and reform in their nations (oil producing nations, that is). A decline in oil and thus the money and power that sprouts from it, will decline the power of many of these nation's rulers. Economic chaos causes revolutions, I think we've learned this throughout history, no? True, some will be worse, others the same, and maybe even some will be better. Hopefully, they all will...

And I don't smoke crack in the morning.

[Raminagrobis]

$this->bbcode_second_pass_quote('Russian_Cowboy', '')$this->bbcode_second_pass_quote('FireJack', 'C')hecked the cia factbook and Azerbaijan is apparently a former soviet state, so increasing thier oil production is nothing major.

Of course like most former soviet countries corruption is rife so all the extra money from oil will benifit few and leave the rest destitude. If something good happens and somehow corruption is kept under control it will be one of the few places where living standards will increase in the near future I bet.