In quarter 1, 2015 Azerbaijani oil export price decreased by 50.2%

In quarter 1, 2015 Azerbaijan delivered 8,417,368 tons of oil to the foreign markets. The volume of oil export increased by 4% against the same period last year, according to the Azerbaijan State Customs Committee.

According to the customs’ meters, from January to March 2015 6,679,095 tons of oil was exported via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline (of which 543,600 tons of gas condensate from the Shah Deniz field), 1,092,889 tons via the Baku-Supsa oil pipeline, 339,491 tons via the Baku-Novorossiysk oil pipeline and 305,891 tons of oil to the Georgian ports by railway.

During this period the declared volume of oil totaled 6,393,237 tons to the amount of $2,629,790,083. One can draw conclusion on the basis of this data that in quarter 1, 2015 Azerbaijan exported its oil at an average price of $411.34 per 1 ton of $55.59 per barrel. According to the customs, from January to March 2014 Azerbaijan delivered oil to the foreign markets at an average price of $111.64. During quarter 1, 2015, Azerbaijani oil export price decreased by 50.2%.

According to the customs, in quarter 1, 2015 export of oil products from Azerbaijan totaled 595,616 tons to the amount of $199,622,027.—0—