Baku: In the first seven months of the current year, Azerbaijan’s mining industry reported a total production value of AZN 23,490 million, maintaining parity with the figures from the same period last year, as revealed in the monthly report by the State Statistical Committee.
According to Azeri-Press News Agency, crude oil and natural gas production contributed AZN 20,833.9 million to the total, marking a 1.5% decline compared to the previous year. This decrease in the crude oil and natural gas sector contrasts with the robust growth seen in other segments of the mining industry. Notably, the mining of metal ores surged by 39.7%, while services provided to the mining industry increased by 29.3%.
The report highlighted that during the reporting period, marketable oil production, the primary output of the sector, reached 15,504.1 thousand tons, reflecting a 3.1% year-on-year decrease. In contrast, marketable natural gas production rose by 1%, totaling 22,777.3 million cubic meters. This divergence in production trends underscores the evolving dynamics within Azerbaijan’s energy sector.