Azerbaijan ranks seventh among EU's oil suppliers

Oil&Gas Materials 1 July 2011 17:25 (UTC +04:00)

Azerbaijan, Baku, July 1 / Trend A. Badalova /

Oil supplied to the EU from Azerbaijan in the first quarter of 2011 amounted to 39.682 million barrels. These data are contained in a report posted on the official website of the European Commission.

Azerbaijan ranks seventh in the first quarter of the year among the countries exporting oil to the EU. The volume of oil supplies during this period totaled 4.43 percent of total exports to EU countries.

According to the information, Azerbaijan supplied oil to the EU to the amount of more than $4.245 billion at an average price of $106.99 per barrel under the CIF terms in January-March.

The oil supplied to the EU by Azerbaijan amounted to 14.757 million barrels worth more than $ 1.724 billion (at an average price of $116.86 per barrel on the CIF terms) in March compared to 10.568 billion barrels worth about $ 1.1 billion (at an average price of $104.04 per barrel) in February, the report said.