SOCAR increases exports of oil, petrochemical products by 48%
Baku, Azerbaijan, July 17
By Leman Zeynalova – Trend:
Azerbaijan’s State Oil Company SOCAR has increased the exports of oil and petrochemical products by 48 percent in the second quarter of 2019, Trend reports with reference to the company.
As noted, over the reporting period, SOCAR exported 4.9 million tons of crude oil (including profitable oil produced at the Azeri-Chirag-Guneshli block of oil and gas fields), more than 172 million cubic meters of natural gas, more than 604,000 tons of oil and petrochemical products.
“Despite the decline in crude oil exports, the company saw a 48 percent increase in exports of oil and petrochemicals. One of the factors contributing to the decline in exports of crude oil and gas is that large volumes of products are used for refining,” the message says.
Reportedly, more than 2.4 billion cubic meters of gas were exported from the country during the reporting period. There was a 37 percent increase in exports of natural gas compared to the same period of 2018 as a result of the launch of the Southern Gas Corridor, the report said.
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