Export of Azerbaijani oil products dropped by about 30% in volume and 57% in money terms
In quarter 1, 2016 oil products production in Azerbaijan dropped by 3.5% against the same period last year to 622.3 million AZN.
According to the Azerbaijan State Statistical Committee, in quarter kerosene production increased by 5.3% to 172,000 tons and black oil by 1698 times to 339,700 tons (in quarter 1, 2015 – 200 tons).
The production of the following oil products declined: petrol by 6.4% to 281,100 tons, virgin petrol by 10.3% to 42,800 tons, diesel fuel by 28.2% to 572,000 tons, lubricating oils by 64.3% to 1,000 tons, oil bitumen by 32.5% to 22,000 tons and oil coke by 67% to 21,400 tons.
According to the State Customs, in quarter 1, 2016 export of oil products from Azerbaijan totaled 422,693 tons to the amount of $85,236,600. During the same period last year Azerbaijan exported 595,616 tons of oil products to the amount of 199,622,007. This means that during a quarter reduction of oil products export constituted 29% in volume and 57.3% in money terms.—0—
Economics
-
The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
-
The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
-
The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
-
Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
Leave a review