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Georgia’s oil industry slips to new lows

November 14


By M. Alkhazashvili


Georgia’s energy resources pale in comparison to the barrels of wealth Baku pulls out of the ground each day, but there are still five companies extracting oil from 11 oil wells within the country.

To date, according to the newspaper 24 Saati, about 28 million tons have been extracted.

Extraction levels, however, have been gradually slipping since a 1980 high of 3.2 million tons.

The first eight months of this year, the newspaper writes, 47 000 tons of oil were extracted. Last year’s total was 64 000 tons.