BAKU, Azerbaijan, August 19. This week, Canadian ShawCor Ltd, which is a contractor for the construction and insulation of pipes at Azerbaijan's Shah Deniz gas condensate field, has announced that it has sold its stake in a subsidiary in Azerbaijan.
The company has signed an agreement to sell a significant portion of its division to Tenaris S.A., a global manufacturer and supplier of steel pipes and related service, for about $220 million, according to a ShawCor report.
Meanwhile, the Ministry of Energy of Azerbaijan reported that Azerbaijan's daily oil production (including condensate) in July 2023 amounted to 621,000 barrels, of which 499,000 barrels accounted for crude oil, and 122,000 barrels - for condensate.
At the same time, Azerbaijan exported 15 million tons of crude oil and oil products worth $9 billion from January through July 2023.
According to the State Customs Committee of Azerbaijan, the list of top-3 countries-importers of Azerbaijani oil from January through July 2023 is headed by Italy (6 million tons worth $3 billion), followed by Israel (1 million tons worth $822 million) and India (1 million tons worth $666 million).
Furthermore, it was disclosed that the volume of oil transportation via the Baku-Tbilisi-Ceyhan (BTC) pipeline amounted to 17.6 million tons from January to July 2023.
According to the data of the State Statistics Committee of Azerbaijan, the volume of oil transportation amounted to 12 million tons in the same period last year. In addition, oil transportation by BTC increased by 46.54 percent year-on-year.
Gasoline production in Azerbaijan rose by 29.8 percent year-on-year in the first seven months of 2023, standing at 838,500 tons. The total cost of production of petroleum products stood at 2.59 billion manat ($1.5 billion) in the reporting period, up by 15.9 percent on annual basis.
Meanwhile, Azerbaijan produced 16,323 billion kilowatts per hour of electricity from January through July this year.
According to the energy ministry of Azerbaijan, this amounts to 45.4 million kilowatts per hour, or 0.3 percent more than the previous year. As a result, the nation produced 2.4 billion kilowatts of electricity per hour in July of this year, a 12.2 percent decline from the same month last year.
At the same time, the export of electricity from Azerbaijan totaled 1.2 billion kilowatts per hour from January through July 2023. This is more than 239 million kilowatts per hour, or 23 percent year-on-year.
Thus, electricity imports totaled 157 million kilowatts per hour, which is 74 million kilowatts per hour, or 88 percent higher year-on-year.