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Azerbaijan exports oil, petroleum products worth $6.3 billion in 2020

17 August 2020 13:37 (UTC+04:00)
Azerbaijan exports oil, petroleum products worth $6.3 billion in 2020

By Ayya Lmahamad

Azerbaijan exported 19.5 million tons of crude oil and petroleum products in January-July current year, worth $6.3 billion, local media reported with the reference to State Customs Committee.

During the same period last year, Azerbaijan exported 19.5 million tons of crude oil and petroleum products, amounting to $9.5 billion.

Furthermore, the country exported 7.7 billion cubic meters of natural gas in January- July 2020. The value of exported gas amounted to $1.4 billion. It should be noted that, county exported 6.7 billion cubic meters of natural gas, worth $1.2 billion, during the same period in 2019.

Additionally, oil and gas sector produced AZN 12.5 billion ($7.3bn) in January-July 2020, with a decrease by 4.3 percent compared to the same period last year.

During the reporting period, production of motor gasoline amounted to 715,900 tons, with a growth by 0.3 percent, diesel fuel to 1.3 million, with a growth by 4.4 percent, grease oils to 14,700 tons, with a growth by 18.5 percent, oil bitumen to 172,400 tons, with a growth by 30.2 percent. In addition, production of straight-run gasoline amounted to 159,200 tons, with a decrease by 6.6 percent, jet fuel to 280,300 tons, with a decrease by 20.1 percent, furnace fuel oil to 41,800 tons, with a decrease by 34 percent, and petroleum coke to 126,900 tons, with a decrease by 12.1 percent.

As of August 1, 2020 Baku Oil Refinery prdouced: motor gasoline - 90,700 tons, jet fuel - 36,100 tons, diesel fuel - 114,300 tons, furnace fuel oil - 14,600 tons, grease oils - 10,900 tons, oil bitumen - 11,800 tons, petroleum coke - 68,800 tons.

Earlier it was reported that, some 14.7 million tons of oil (including condensate) were exported in the first half of 2020, which is approximately by 900,000 tons or 5.9 percent less than in the same period of 2019.

Moreover, investments to Azerbaijan’s oil and gas sector increased by 22.9 percent in January-July 2020, compared to the same period last year, amounting to AZN 3.4 billion ($2.0bn).

Additionally, oil and gas sector produced AZN 12.5 billion ($7.3bn) in January-July 2020, with a decrease by 4.3 percent compared to the same period last year.

The volume of Azerbaijan’s foreign trade turnover amounted to $11.7 billion in the first six months of 2020.

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