JUNE 17 2013 (The Conway Bulletin) — The figures in the BP Statistical Review of World Energy can be dry but the stories behind the figures are important.
The 2013 edition is an important barometer for the energy-centric economies in Central Asia and the South Caucasus. The most telling figure for the region in this year’s edition of the review was that oil consumption in Kazakhstan grew by over 10% in 2012.
This is a large jump. In the countries covered in the review only Israel’s oil consumption increased at a higher rate. The global rise in oil consumption in 2012 was 0.9%.
The increase reflects Kazakhstan’s emergence from a sharp economic retraction triggered by the global crisis of 2008/9 when oil consumption fell.
Last year Kazakhstan, with a population of 17m, consumed 265,000 barrels of oil per day. By comparison, Uzbekistan, population 29.5m, consumed 82,000 barrels/day and Turkmenistan, population 5m, consumed 100,000 barrels/day.
Across the Caspian Sea, BP reported that Azerbaijan, population 9.3m, consumed 93,000 barrels of oil per day, a jump of 5.4%. This rise in Azerbaijan’s oil consumption, although not as big as Kazakhstan’s leap, still shows an increase in economic activity.
ENDS
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(News report from Issue No. 139, published on June 17 2013)