Azerbaijani oil export price slowly goes down
From January to August 2015 Azerbaijan exported 22,166,644 tons of oil, down 2.7% against the same period in 2014.
According to the meters of the Azerbaijan State Customs Committee, from January to August 2015 18,092,965 tons of oil was exported via the Baku-Tbilisi-Ceyhan oil pipeline (of which 1,348,745 tons of gas condensate from the Shah Deniz field), 2,809,029 tons via the Baku-Supsa oil pipeline, 847,107 tons via the Baku-Novorossiysk oil pipeline and 417,543 tons to the Georgian ports by railway.
According to the Customs Committee, during this period 14,910,250 tons of oil to the amount of $6,394,879,077 has been exported on the basis of the customs declarations. This means that 1 ton of Azerbaijani oil was exported on average for $428.89 or $57.95 per barrel.
During six months this year Azerbaijan exported its oil at the price of $59.30 per barrel.
According to the Customs Committee, from January to August 2015 oil products export from Azerbaijan totaled 1,506,120 tons to the amount of $534,354,059.—0—
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review