Journal

Volume 71, #1

  “Economic Sciences: theory and practice” is scientific, refereed, biannual journal. The Journal of “Economic Sciences: theory and practice” has been founded by Azerbaijan State University of Economics in 1994.              
The Journal has been received to registration in the centre of international ISSN (International Standard Series Number, ISSN-2220-8739). Also, it has been included by the Supreme attestation Commission under the President of Azerbaijan Republic to the list of scientific publications on economic sciences.


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Forecasting of oil and gas extraction in Azerbaijan on the basis of Hubbert’s model

Gorkhmaz Imanov, Institute of Cybernetics of the Azerbaijan National Academy of Sciences, d.e.s., prof. Yadulla Hasanli, Head of the Laboratory of Modeling of Social-Economic Processes of the Institute of Cybernetics of the Azerbaijan National Academy of Sciences, d.e.s., prof.


 Abstract. In work the Hubbert’s model of oil and gas production is investigated. Using the applicable statistical data, econometric models of oil and gas extraction in Azerbaijan are valued. Further, on the basis of the models constructed for Azerbaijan the oil and gas extraction bulk is predicted.

Keywords: oil and gas production, Hubbert model, econometric modeling.

JEL Classification Codes: L95; Q47;C53;E17