During 2012 shipment of Azerbaijani oil from the Ceyhan port, which was delivered here via the Baku-Tbilisi-Ceyhan (BTC) pipeline, totaled 29,299,500 tons. 69.4% of this volume or 20,334,395 tons was profitable oil, profit from which is transferred to the account of the State Oil Fund of Azerbaijan (SOFAZ).
These data was collected and processed by the Caspian Barrel Oil Studies Centre on the basis of the monthly statistical data of the SOCAR.
In 2011 the volume of profitable oil of Azerbaijan exported from the Ceyhan port totaled 23,354,458 tons. In 2011 a total of 32,083,789 tons of Azerbaijani oil was shipped from the Ceyhan port. This means that share of profitable oil of Azerbaijan in the volume of oil exported from the Ceyhan port constituted 72.8%.
During 2012 share of the profitable oil of Azerbaijan in the oil exported from the Ceyhan port dropped by 3,020,063 tons or by 22.3 million barrels. Considering that during 11 months, 2012 average export price of Azeri Light oil was $112.93 (on the basis of the customs declarations) per barrel, then Azerbaijan received $2.5 billion less profit.
Azerbaijan's oil export from Ceyhan port in 2012
Months | Shipped volume of Azerbaijani oil | SOCAR's profitable oil | |
Volume (tons) | % | ||
January | 2 455 988 | 1 900 463 | 77.4 |
February | 2 360 491 | 1 358 686 | 57.6 |
March | 2 488 441 | 1 938 462 | 77.9 |
April | 2 773 819 | 1 847 705 | 66.4 |
May | 2 414 788 | 1 716 375 | 71.1 |
June | 2 716 719 | 1 618 588 | 59.6 |
July | 2 487 805 | 1 886 336 | 75.3 |
August | 2 129 631 | 1 612 149 | 75.7 |
September | 2 453 356 | 1 758 450 | 71.6 |
October | 2014 671 | 1 588 490 | 78.8 |
November | 2 341594 | 1 461 128 | 62.4 |
December | 2 513 505 | 1 647 563 | 65.5 |
Total | 29 299 005 | 20 334 395 | 69.4 |
---0--
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review