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2020 export of oil bitumen from Azerbaijan grows tenfold

Business Materials 19 January 2021 10:09
2020 export of oil bitumen from Azerbaijan grows tenfold

BAKU, Azerbaijan, Jan.19

By Fidan Babayeva - Trend:

One of the notable highlights of 2020 is that 10.4 times more oil bitumen was exported from Azerbaijan than in 2019, Trend reports referring to State Oil Company (SOCAR).

According to the company, 125,000 tons of oil bitumen were exported from Azerbaijan in the reporting year.

"As it’s known, in the last decade, the production of bitumen was focused mainly on the demand of the domestic market. In 2019, after the commissioning of a new bitumen plant, which increased production in this direction, Azerbaijan again began exporting these products," said the company.

From January through November 2020, Azerbaijan produced about 347,100 tons of petroleum bitumen. Thus, on an annualized basis, this indicator increased by 51.5 percent.

Meanwhile, 179,500 tons of petroleum coke was produced, which is 17.9 percent less than the same period of the previous year. As of December 1, 2020, the stock of this product amounted to 47,000 tons, and bitumen – 15,100 tons.

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Follow the author on Twitter: @Fidan_Babaeva

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