New directions of petroleum products export from Azerbaijan announced

Business Materials 9 April 2015 20:40 (UTC +04:00)

Baku, Azerbaijan, Apr. 9

By Maksim Tsurkov - Trend:

The company SOCAR (State Oil Company of Azerbaijan) transports a part of petroleum products, exported by transit through Russia, via the Sea of​ Azov, a source on the oil and gas market of Azerbaijan told Trend Apr.9.

"There are several routes via which petroleum products are exported through Russia," said the source. "Some of them are transported through the port of Azov in the Sea of ​​Azov. Another part is transported via the more northern routes, including the route via the Baltic Sea."

The source didn't mention more specific routes and customers.

At present, about 40,000 metric tons of petroleum products have already been exported through Russia.

At present, the State Oil Company exports two types of petroleum products of transit through the territory of Russia: diesel oil and vacuum gas oil. Currently, some 10,000 metric tons of diesel fuel and 30,000 metric tons of vacuum gas oil have been exported.

SOCAR exported 348,600 metric tons of petroleum products in the first quarter of 2015, which is 11.5 percent more than in the same period of 2014.

This is while the company exported 1.2 million metric tons of petroleum products in 2014, compared to nearly 1.05 million metric tons in 2013.

Previously, Azerbaijani petroleum products were produced at two refineries in Baku. Both of these refineries were included in SOCAR which annually processes around 7 million metric tons of oil produced at onshore and offshore fields with its own funds.

SOCAR announced about liquidation of Azneftyag oil refinery and its merger with Baku Oil Refinery named after Heydar Aliyev in December 2014. The major part of Azerbaijani petroleum products is exported to Georgia.


Follow the author on Twitter: @MaksimTsurkov