2 million tons of Azerbaijani oil a year delivered to Rotterdam port
Netherlands is interested in increase in Azerbaijani oil purchases, Ahmad Abutaleb, Mayor of Rotterdam, told journalists in Baku last week.
“At present 2 million tons of Azerbaijani oil is delivered to Rotterdam port, which makes 2% of the total volume of oil delivered to the port. Quality of Azerbaijani oil is very high and the volume of deliveries could be increased,” Abutaleb said.
He said the delegation led by him has had a meeting in SOCAR to discuss the perspectives of cooperation.
“We believe that Azerbaijan could benefit from sale of its oil in Rotterdam,” he added.—0—
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- Economics
- 25 November 2013 11:36
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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