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SOCAR cuts oil product exports

Oil&Gas Materials 3 March 2015 12:14 (UTC +04:00)

Baku, Azerbaijan, March 3

By Maksim Tsurkov - Trend:

Azerbaijan's State Oil Company (SOCAR) in Jan.-Feb. 2015 exported 197,880 metric tons of oil products versus 222,350 metric tons exported during the same period of 2014, according to the company's message.

SOCAR in 2014 exported 1.2 million metric tons of oil products 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

Jan.-Feb. 2015, metric tons

Jan.-Feb. 2014, metric tons

Diesel fuel

165,227

164,275

Aviation kerosene

32,470

23,245

Furnace oil

178

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Edited by SI

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Follow the author on Twitter: @MaksimTsurkov

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