Georgia decreases import of oil products from Azerbaijan

Economy Materials 25 January 2016 14:18 (UTC +04:00)

Baku, Azerbaijan, Jan. 25

By Maksim Tsurkov - Trend:

Georgia imported 280,980 tons of oil and oil products from Azerbaijan in 2015, according to the foreign trade report of Georgia's National Statistical Service (GeoStat).

The total cost of these products stood at $137.53 million, said the report.

The import volume of these products from Azerbaijan to Georgia in 2015 has decreased by 1.7 percent, while their total cost has dropped by 42.9 percent [due to the decrease in oil prices] compared to 2014, said GeoStat.

The report said that oil and oil products from Azerbaijan accounted for 20.92 percent of the total volume of import to Georgia during the reporting period.

In total, Georgia has imported $657.44 million worth oil and oil products in 2015, according to the report.

This country imported 285,930 tons of oil and oil products worth $240.84 million in 2014.

In 2015, Georgia imported $542.89 million worth products from Azerbaijan in 2015, or 14.85 percent less than in 2014.

Previously, oil products in Azerbaijan were produced at two refineries in Baku. Both of these refineries were included in SOCAR which annually processes around seven million tons of oil produced at onshore and offshore fields with its own funds.

However, SOCAR announced about liquidation of Azneftyag oil refinery and its merger with Baku Oil Refinery named after Heydar Aliyev in December 2014.


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