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SOCAR increases export of petroleum products by over 14% in 2014

Oil&Gas Materials 6 January 2015 16:18 (UTC +04:00)

Baku, Azerbaijan, Jan. 6

By Emil Ismayilov - Trend:

The State Oil Company of Azerbaijan (SOCAR) exported about 1.2 million metric tons of petroleum products from its own oil refineries in 2014 compared to 1.05 million metric tons in the same period of 2013, SOCAR said Jan. 6.

The company exported around 1.04 million metric tons of petroleum products from its own oil refineries in 2013, compared to over 1.24 million metric tons in 2012.

Earlier, oil products were produced at two Baku oil refineries. Both oil refineries belonged to SOCAR, which annually processes approximately 7 million metric tons of oil, extracted from onshore and offshore fields with SOCAR's own funds. However, in December 2014 SOCAR announced about the elimination of Azneftyag refinery and its merger with the Heydar Aliyev Baku Oil Refinery.

The table below shows the exported oil products:

Oil products

Jan.-Dec.

2014, metric tons

Jan.-Dec.

2013, metric tons

Diesel fuel

992 725

899 905

Gasoline

9 432

14 250

Aviation kerosene

196 729

131 322

Furnace oil

657

657

The volumes of gasoline production and consumption in Azerbaijan became equal in 2013. That's why, the gasoline export was minimized.

Azerbaijan exports significant part of its petroleum products to Georgia.

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follow the author on Twitter: @Emilsmail

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