US slightly increases import of Azerbaijani oil products

Business Materials 1 November 2014 14:16 (UTC +04:00)

Baku, Azerbaijan, Nov.1
By Emil Ismayilov - Trend:

In January-August 2014, the US imported 359,000 barrels of oil compared to 336,000 barrels in the same period of 2013 from Azerbaijan, said the report of the State Energy Information Administration (EIA) Oct.31.

In August 2014, the US imported 275,000 barrels of Azerbaijani oil products versus 168,000 metric tons in the same month of 2013, according to the report.

The entire volume of imported products falls on naphtha, which is used as raw material in the petrochemical industry.

In 2013, the US imported from Azerbaijan 366,000 barrels of oil compared to 46,000 barrels in 2012.

After a long break, which was ongoing since 2009, the United States resumed deliveries of oil products from Azerbaijan in 2012. In 2008, the United States received 308,000 barrels of Azerbaijani oil products.

Oil products are produced at two Baku refineries with total capacity of 16 million metric tons per year. Both refineries belong to SOCAR, which annually processes approximately 7 million metric tons of oil produced on offshore and onshore fields at its own expense.