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Text Chapter 633: Delayed Childbirth

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    In 1994, Azerbaijan's thirst for funds had reached its extreme. Selling 11 oil blocks in one go, even with a large contract of more than 30 years, was Aliyev's helpless move.

    What he didn¡¯t expect was that the Aqijiu oil block, which was not very promising, turned into a super oil field with reserves of billions or even tens of billions of barrels of crude oil.

    At this time, Aliyev is far from thinking about the reduced share, but the increased income.

    An oil field with a daily output of 150,000 barrels of crude oil, whether it is a 40% or 50% share of the revenue, will always be much greater than an oil field with a daily output of 15,000 barrels. For the devastated Azerbaijani society  , a sum of foreign exchange is not only a solution to the problem of endless waste, but also a catalyst for stabilizing society.

    ¡°Whether it is Aliyev¡¯s allies or his enemies, their eyes are focused on government revenue. If the profits from the oil fields are insufficient, how many troubles may arise.

    However, Azerbaijan¡¯s increase in crude oil production is not a good thing for OPEC.

    Putting aside the competitive relationship between the Middle East and the Caspian Sea, the current sluggish demand for crude oil has caused headaches for OPEC member states. Hundreds of thousands more barrels of crude oil are added to the market every day, which has also made them discuss strategies to reduce crude oil production.  Become a flower in the water, the moon in the mirror.

    In the past, when crude oil fell, the common practice of OPEC was to reduce production. The daily crude oil production of countries around the world was about 80 million barrels. Among them, many major oil-producing countries such as the United States and the United Kingdom did not export crude oil. Therefore, what really determines the price of crude oil is  The only countries that can put large amounts of crude oil on the international market are net exporters of crude oil.

    Generally speaking.  Cutting production by 1 million barrels was already a major move by OPEC, and international crude oil prices rose in response.  It's almost like there's a lot of noise.

    Cutting production by 1.5 million barrels or 2 million barrels is a state of economic crisis. For OPEC, which has a daily output of 29 million barrels, 12 countries cutting total production by 7% is a huge sacrifice. On average, if one country is  A little over 100,000 barrels.

    As for countries other than OPEC, Russia has made the decision to reduce production by 300,000 barrels, which is almost the limit.

    However, Azerbaijan suddenly increased production.  The increased production capacity exceeded 200,000 barrels, close to the level of 300,000 barrels, which means that the production reductions of the two OPEC member states contributed to Azerbaijan.

    It is impossible to expect OPEC to eliminate such a large market impact at the expense of its own interests.

    ¡°What they established is not a charity, but a monopoly organization between countries, with the purpose of obtaining more profits.  Whether it should be or shouldn't be.

    The Saudis are the backbone of OPEC and a special being. Because the production of crude oil is high enough, Saudi Arabia has naturally become a buffer for various oil-producing countries. Whenever crude oil needs to be reduced, the wealthy Saudis often take the initiative to bear larger costs.  Much reduction.  Whenever the world is short of crude oil, the Saudis are always the original supplier of last resort.

    Until shale oil, Saudi Arabia was almost the last barrier to commercial oil in the world.

    Therefore, when Aliyev appeared, the Saudis were the first to receive him.

    After some routine greetings.  Jassim, representing the Saudi Oil Ministry, personally sent Aliyev to the hotel, and then there were groups of people greeting him.

    Aliyev enjoys this process very much.  But still remain quite cautious.

    Those who come to visit now are all here to test his tone. This is because he is not strong enough. If he were the president of a big country, even if the other party wanted to do such a thing, he should find his subordinates to do it.

    "However, Aliyev is an old KGB member from the Soviet era, and he never takes his face seriously. The other party is not in a hurry, so he can accompany him with peace of mind.

    It wasn¡¯t until Naimi from the Saudi Oil Ministry appeared that the two entered a state of preparation for negotiations.

    Naimi, who was 59 years old at the time, was also an outstanding person. He was the longest-serving person in the position of Saudi Oil Minister. He was still active in the oil political circle until he was in his 70s. As his strength increased,  , Naimi once ranked in the top 30 of Forbes' global power list, higher than the President of the United Arab Emirates.

    In 1994, Naimi was not very well-known, but his strong ideas, or his unique ideas, were still well known by people in the oil circle.

    Stable oil prices, opposing the decline in crude oil prices, and at the same time opposing the rise in crude oil prices, is where Naimi is completely different from the bosses of other oil-producing countries.

    Perhaps, this is also the reason why Naimi has been doing it longer than other big guys.

    After a few short sentences, Naimi asked the question he was most concerned about through a translator: "Is Azerbaijan willing to maintain the stability of crude oil prices?"

     "Of course." Aliyev smiled and leaned on the sofa and said in a very comfortable manner: "Azerbaijan has just started selling crude oil to the international market. If the oil price can remain stable, so that Azerbaijan's fiscal revenue can remain stable, then naturally  It¡¯s what we need.¡±

    Oil revenue is the need of every oil-producing country to ensure its finances. If it is lower than this standard, it will be very difficult to reduce production. Iran and Iraq after the Iran-Iraq War, especially Saddam Hussein in mad dog mode, are precedents.  In the difficult period after the war, let alone asking them to reduce production, the main problem was that the two countries secretly increased production.

    This question was asked by the gentlemen who interviewed before. Naimi nodded and said directly: "What is Azerbaijan's fiscal budget this year?"

    "About 1.5 billion US dollars." Aliyev gave a very high level of confidence.

    For Azerbaijan now, 500 million US dollars is enough to make ends meet. As for living a good life, naturally no amount of money is enough.

    According to the current oil price, even if Azerbaijan can extract half of each barrel of crude oil, which is between US$8 and US$9, Azerbaijan will produce 300,000 barrels of crude oil per day. If the maintenance period is removed, the annual crude oil production will be 90 million barrels.  Less than US$800 million fell into the hands of the Albanian government.

    It will take a few more years, when the production of the Caspian Sea oil region increases significantly, to 2 million or even 3 million barrels per day, and when the oil price doubles and then doubles, Azerbaijan will become a truly rich country.

    Naimi pondered for a moment and said: "1.5 billion is a reasonable number, but can the President postpone the peak production period of crude oil and stabilize the current unstable crude oil price?"

    "We can consider it." Aliyev smiled.

    Naimi was slightly excited and said: "At the OPEC ministers' meeting in January this year, the original plan was to reduce production, but in the end no conclusion was reached. Therefore, this summit is the last chance this year to get the support of the President.  Support, and I am confident to convince OPEC members to finally make the decision to reduce production."

    "The rise in oil prices is also good for Azerbaijan now." Aliyev changed the subject and added: "However, the Caspian Sea oil field has just started production, the costs of each company have not yet been recovered, and the equipment is not running very smoothly. It is estimated that  It will take some time to convince them to postpone the birth"

    ¡°Coordinating OPEC countries also takes time, how about one month?¡±

    "It's hard to say. In additiondelayed production will cause short-term income shortages, and the government must also coordinate."

    Naimi tilted her head to listen to him, and wanted to roll her eyes, thinking: You just received so much signing bonus, are you still not earning enough?

    Since the other party was the president, Naimi could only ask calmly: "Where is the coordination time?"

    "Not sure By the way, have you contacted Kazakhstan?"

    Naimi immediately knew what Aliyev wanted to say, and said with a headache: "Kazakhstan has also made some demands, mainly for oil pipelines and oil refineries However, Kazakhstan's crude oil output channels are different from ours  ¡­¡±

    "Kazakhstan did not agree to the request to reduce production?"

    "Yes."

    Aliyev said without any expression: "I will make a decision after discussing with my staff."

    "Thank you, Your Excellency the President, for the interview." Naimi can only hope that Aliyev will make a decision that is beneficial to him.  Although OPEC can exert pressure, but just to reduce the production of hundreds of thousands of barrels of crude oil?  But it may not be worth it.

    Aliyev watched Naimi leave and slowly said: "Let the news get out."

    "Okay." His media manager nodded slightly, took the elevator in the hotel suite, and left the building.

    At this moment, the financial reporters who gathered around the hotel hoping to get first-hand news about OPEC were waiting anxiously.

    ¡­(To be continued. If you like this work, you are welcome to come to Qidian to vote for recommendations and monthly votes. Your support is my biggest motivation. Mobile phone users please go to m. to read.)
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