Bloomberg News

BP’s BTC Oil Pipeline Carried 7.8% Less Crude in First Quarter

April 09, 2012

Azeri crude exports through the BP Plc-operated Baku-Tbilisi-Ceyhan pipeline fell 7.8 percent to 7.93 million metric tons in the first quarter from the same period a year earlier.

As of April 1, the pipeline, also known as the BTC, has carried 183.7 million tons of crude since it started in 2005, State Oil Co. of Azerbaijan, or Socar, said on its website today.

The Baku, Azerbaijan-based energy producer, which is a partner in the BTC, gave no reason for the decline.

In 2011, Azerbaijan’s oil output declined to 45.4 million metric tons, or about 911,000 barrels a day, from 50.8 million tons a year earlier. Gas production fell 2.4 percent to 25.7 billion cubic meters.

The Caspian Sea nation, which is the third-largest oil producer in the former Soviet Union, also uses two smaller export pipelines, running from Baku to the Black Sea ports of Supsa and Novorossiysk.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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