Since early year Azerbaijan exported its oil at average price of $109.29 per barrel
From January to July 2013 Azerbaijani oil export totaled 20,229,092 tons, according to the meters of the Azerbaijan State Customs Committee.
According to the customs, this is down 4.4% against the same period last year.
According to the meters, from January to July 16,432,544 tons of oil was exported via Baku-Tbilisi-Ceyhan (BTC) oil pipeline, 2,261,863 tons via the Baku-Supsa oil pipeline, 993,017 tons via the Baku-Novorossiysk oil pipeline and 542,342 tons of oil to Batumi port by railway.
During this period the volume of oil export declared by the customs totaled 14,335,076 tons to the amount of $11,593,029,800. Since early year 1 ton of Azerbaijani oil was exported at the average price of $808.74 or $109.29 per barrel.
During this year incomes of the Azerbaijan state budget are based on the average annual export oil price of $100 per barel.-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