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Czech Republic eyes to increase oil imports from Azerbaijan

Oil&Gas Materials 12 September 2018 13:43
The Czech Republic is interested in increasing oil imports from Azerbaijan, Czech Minister of Industry and Trade Marta Novakova told reporters in Baku Sept. 12.
Czech Republic eyes to increase oil imports from Azerbaijan

Baku, Azerbaijan, Sept. 12

By Anvar Mammadov - Trend:

The Czech Republic is interested in increasing oil imports from Azerbaijan, Czech Minister of Industry and Trade Marta Novakova told reporters in Baku Sept. 12.

She said that presently the Czech Republic imports one third of the consumed oil from Azerbaijan.

The bulk of oil in the Czech Republic is processed at the Kralupy refinery, she noted.

The increase in imports directly depends on the increase in refinery capacity, she added.

Unfortunately, the Czech Republic cannot influence this issue, since the refinery is presently managed by a Polish company, however, negotiations regarding this issue are underway, Novakova said.

Azerbaijan is the second biggest oil supplier to the Czech Republic after Russia. Over 80 percent of the trade turnover between Azerbaijan and the Czech Republic accounts for oil and oil products.

At the same time, business relations between Azerbaijan and the Czech Republic are beginning to revive in the non-oil sector as well. Czech Iveco buses and L-39 planes are supplied to Azerbaijan.

Azerbaijan’s trade turnover with the Czech Republic amounted to $473.02 million in January-July, and almost $394.28 million of this volume accounted for the export of Azerbaijani products to the Czech Republic, according to the State Customs Committee of Azerbaijan.

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Follow the author on Twitter: @Anvar_Mammadov

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