Energy
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In 2024, oil production with condensate in Azerbaijan totaled 29.1 million tons, according to preliminary data from the Ministry of Energy. In 2023, Azerbaijan produced 30.15 million tons of oil and condensate. Thus, over the year, the volume of liquid hydrocarbons produced in the country decreased by 3.48% or 1.05 million tons.
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In 2024, Azerbaijan produced 50.3 bcm of gas, including the volumes injected into oil wells to maintain reservoir pressure. According to the Ministry of Energy of Azerbaijan, gas production increased by almost 2 bcm compared to 2023.
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In January-December 2024, Azerbaijan increased its gas exports by 5.8% compared to the same period in 2023, reaching 25.2 bcm, the Ministry of Energy of Azerbaijan reported. According to the Ministry, 12.9 bcm of Azerbaijani gas were supplied to Europe in 2024, accounting for 51% of total exports.
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Azerbaijan's oil refining volume in 2024 amounted to 5.8 million tons, the Ministry of Energy of the Republic of Azerbaijan reported. Compared to 2023, the refining volume in the country decreased by 700,000 tons, or 10.8%. It is recalled that in 2023, Azerbaijan refined 6.5 million tons of oil.
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