Fitch: Azerbaijan’s oil reserves to last for 25 years

Fitch: Azerbaijan’s oil reserves to last for 25 years
  • Clock-gray 11:04
  • calendar-gray 16 February 2021

Taking into account the level of natural oil production at the beginning of 2020, Azerbaijan’s oil reserves will be enough for the country for 25 years, according to the calculations of Fitch Ratings and BP, APA-Economics reports.

The international agency says that according to the indicator, Azerbaijan ranks 11th in the world. Kuwait, Iraq, and Canada are in the top three according to the indicator.

According to the Fitch, the volume of oil-gas reserves of the country made up 0.8% of global reserves in 2019.

 

Emil Ismayilov

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