The agency said that a strong fiscal position, significant external reserves, favourable situation in the oil market were credit rating supporting factors.

The changes are coming fast, weeks after deadly riots jolted the ex-Soviet state, with key resignations and longstanding institutions undergoing being modified or overturned.

Urals crude is exported by both pipeline and sea. Seaborne deliveries are via two other major routes -- Primorsk and Ust Luga on the Baltic Sea and Novorossiisk on the Black Sea.

Azerbaijan is now set to produce 675,000 bpd in March and 682,000 bpd in April.