According to the draft of state budget, which was submitted by the government for the consideration and approval of parliament, next year oil products production is planned to be increased by 4.4% in Azerbaijan.
According to the document, this year the republic must produce 5.87 million tons of oil products and next year the volume of oil products production must be increased up to 6.13 million tons.
The growth of oil products production is connected with growing consumption at the local market.
Table of aviation fuel production in Azerbaijan from 2010 to 2014 (thousands tons)
| Oil products | 2010 | 2011 | 2012 | 2013 | 2014 |
| Aviation petrol | 1249 | 1295 | 1296 | 1360 | 1490 |
| Diesel fuel | 2488 | 2483 | 2368 | 2200 | 2040 |
Oil products are manufactured at two oil refineries in Baku. The automobile fuel is manufactured at Heydar Aliyev oil refinery.—0—
Economics
-
Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
-
Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
-
Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
-
Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
Leave a review