From January to September 2014 21,844,191 tons of Azerbaijan oil was pumped via the Baku-Tbilisi-Ceyhan (BTC) pipeline, down 3.1% against the same period in 2013.
SOCAR press office reported that in September 2014 2,285,783 tons of oil was transported via BTC, since putting of the pipeline into operation on June 4, 2006 till October 1, 2014 257,160,695 tons of oil has been transported.
In September 2014 385,597 tons of Turkmen and Kazakhstan oil were transported via BTC.
In September 2014 2,543,390 tons of Azerbaijani oil was shipped from the Ceyhan oil terminal. From January to September 2014 22,125,785 tons of oil was shipped from the terminal, a total of 255,269,699 tons of Azerbaijan oil was shipped from the terminal since launching the BTC oil pipeline.
The project partners include BP (30.1%); SOCAR (25%); Chevron (8.9%); Statoil (8.71%); TPAO (6.53%); ENI (5%); Itochu (3.4%); ConocoPhillips (2.5%); INPEX (2.5%), Total (5%) and ONGC (2.36%).—0--
Economics
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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.
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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.
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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.
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"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.
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