BAKU, Azerbaijan, June 1
By Nargiz Ismayilova - Trend:
The total value of manufacturing of petroleum products and services provided in Azerbaijan from January through March 2020 amounted to 815.9 million manat ($479.9 million), Trend reports referring to the country’s State Statistical Committee.
According to the committee, this indicator rose by 11 percent compared to the same period in 2019.
Over the reporting period, the total output worth of chemical products made up 220.2 million manat ($129.5 million), which is 46.1 percent more than in the 1st quarter of last year.
In 2019, the total output worth of petroleum products in Azerbaijan made up slightly over 3.1 billion manat ($162.8 million), which is 3.2 percent less than in 2018.
Currently, due to the increase in fuel consumption in Azerbaijan, work on modernizing existing refining capacities is being carried out by Azerbaijan’s State Oil Company SOCAR, the country's only manufacturer of petroleum products.
Over 4.7 million tons of petroleum products were produced in Azerbaijan in 2018, compared to 4.6 million tons produced in 2017.
(1 USD = 1.7 AZN on June 1)
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