From January to May 2015 SOCAR has shipped 7,278,248 tons of Azerbaijani oil from the Ceyhan terminal, down 13.8% against the same period last year.
SOCAR press office reported that in May 2015 SOCAR has shipped 1,352,966 tons of oil from the Ceyhan terminal.
In 2014 20,483,248 tons of Azerbaijani oil was shipped from the Ceyhan oil terminal.
The length of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline is 1768 km, of which 443 km lie in Azerbaijan, 249 km in Georgia and 1076 km in Turkey. The carrying capacity of the pipeline is over 50 million tons of oil a year.
The project partners include BP (30.1%); SOCAR (25%); Chevron (8.9%); Statoil (8.71%); TPAO (6.53%); ENI (5%); Itochu (3.4%); ConocoPhillips (2.5%); INPEX (2.5%), Total (5%) and ONGC (2.36%). –0—
Economics
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In Baku, grappling with growing environmental challenges, experts and policymakers convened on Friday for an international scientific conference titled “Sustainable Environment: Transition to Green Energy.” The event highlighted the urgent need for innovative strategies to combat pollution and advance renewable energy initiatives.
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Kazakhstan is set to increase its oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline by 5.1% in 2024, reflecting growing regional cooperation and diversification in energy routes. According to figures obtained by Turan News Agency, the total volume of Kazakh oil transiting through the BTC pipeline is projected to exceed 1.464 million tons, up from 1.392 million tons in 2023.
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In a groundbreaking development for Azerbaijan’s energy sector, GL Group, a prominent Azerbaijani oil company, has announced plans to drill the country’s first horizontal well on land, reaching a depth of 4,400 meters with a lateral section of approximately 400 meters. The project, a milestone in the region’s oil exploration history, is set to take place at the Kirsangi-Garabaghly onshore fields.
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The Central Bank of Azerbaijan (CBA) forecasts an annual inflation rate of 5.1% by the end of 2024, comfortably within the target range of 4% ± 2%. However, recent data indicate that inflationary pressure has significantly eased over the year: in October, the inflation rate stood at 3.4%, slightly down from 3.5% in September. Official data for November have not yet been released, leaving room for speculation about possible year-end adjustments.
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