Ukraine imports $500m worth of Azeri oil
BAKU – Ukraine imported crude oil from Azerbaijan in the amount of $500 million in the first half of 2010.
The oil is exported to Ukraine via the Azerbaijan-Ukraine-Georgia corridor. Ukraine meets 25% of its demand for oil through the GUAM transit route.
In six months Ukraine spent $2 billion on crude purchases.
Owing to the transport corridor, Ukraine meets part of its needs for oil, Azerbaijan accesses an alternative market for its oil products, while Georgia benefits from transit fees.
GUAM aims to strengthen cooperation between its four member countries – Georgia, Ukraine, Azerbaijan and Moldova.
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