SOCAR increases oil product exports by nearly 42%

Business Materials 5 May 2015 13:59 (UTC +04:00)

Baku, Azerbaijan, May 5

By Maksim Tsurkov - Trend:

Azerbaijan's State Oil Company (SOCAR) exported 475,000 metric tons of oil products in January-April of 2015 or by 41.9 percent more than in the same period of 2014, SOCAR said.

SOCAR exported 1.2 million metric tons of oil products in 2014 compared to about 1.05 million metric tons exported in 2013.

Earlier, oil products were produced at two Baku oil refineries. Both refineries belonged to SOCAR, which annually processes about seven million metric tons of oil, extracted from onshore and offshore fields with SOCAR's own funds.

SOCAR announced in December 2014 about closing the Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery.

A significant part of Azerbaijani oil products is exported to Georgia.

Below are the figures for oil product exports:

Oil products


2015, metric tons


2014, metric tons

Diesel fuel

387 141

250 104

Aviation kerosene

87 646

46 565

Furnace oil



Follow the author on Twitter: @MaksimTsurkov