Day: April 15, 2024
The International Court of Justice will hold public hearings on the preliminary objections raised by Azerbaijan in the case concerning Application of the International Convention on the Elimination of All Forms of Racial Discrimination (Armenia v. Azerbaijan) at the Peace Palace in The Hague, the seat of the Court, from Monday 15 to Friday 19 April 2024.
On 16 September 2021, Armenia instituted proceedings against Azerbaijan concerning violations of the International Convention on the Elimination of All Forms of Racial Discrimination (see press release 2021/20). On 21 April 2023, Azerbaijan raised preliminary objections to the jurisdiction of the Court and, in accordance with Article 79bis, paragraph 3, of the Rules of Court, the proceedings on the merits were therefore suspended, pending a decision of the Court on these preliminary objections.
By an Order dated 25 April 2023, the President of the Court fixed 21 August 2023 as the time-limit within which Armenia might present a written statement of its observations and submissions on those preliminary objections. Armenia submitted its statement within that time-limit. Pursuant to Article 53, paragraph 2, of the Rules of Court, the Court may, after ascertaining the views of the Parties, decide that the texts of the preliminary objections of Azerbaijan and the written observations of Armenia will be made accessible to the public at the start of the hearings.
Azerbaijan’s oil output is projected to stand at 0.64 mb/d per day in 2025, according to Azerbaijan in Focus, reporting Trend.
The forecast provided by the US Energy Information Administration (EIA) remains unchanged compared to the estimations from the previous month.
Accordingly, the country’s output is projected to increase by 0.04 mb/d from the estimated 0.60 mb/d anticipated for production in 2024.
Specifically, Azerbaijan’s oil production is expected to reach 0.62 mb/d in the first quarter of 2025, followed by a subsequent rise to 0.64 mb/d in the second quarter. The EIA foresees further growth to 0.66 mb/d in the third quarter, and to 0.65 mb/d in the fourth quarter of the following year.
For 2024, the EIA forecasts Azerbaijan to achieve 0.60 mb/d in the first quarter, stabilizing around 0.61 mb/d in the fourth quarter.
The EIA noted that Azerbaijan produced 0.62 mb/d of crude in 2023, representing a decrease of 0.05 mb/d year-on-year.
Meanwhile, according to the operational data provided by the Ministry of Energy, Azerbaijan produced 7.3 million tons of oil, including condensate, from January through March 2024, which is 5.2 percent less than in the same period of 2023 (7.7 million tons).
The post EIA updates forecast on Azerbaijan’s oil output in 2024-25 appeared first on Azerbaijan In Focus.