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Georgia reveals volume of imported oil bitumen

Oil&Gas Materials 22 January 2021 17:26
Georgia reveals volume of imported oil bitumen

BAKU, Azerbaijan, Jan. 22

By Tamilla Mammadova – Trend:

Imports of oil bitumen to Georgia amounted to 128,700 tons in 2020, which is 24.3 percent less than in 2019, Trend reports referring to the Union of Importers of Oil Products of Georgia.

The largest supplier of oil bitumen was Azerbaijan - 82,100 tons (63.8 percent of total imports), followed by Iraq - 26,600 tons (20.7 percent), Iran - 9,100 tons (7.1 percent), Turkey - 2,400 tons (1.9 percent).

In 2020, a decrease in imports of petroleum products was associated with the coronavirus pandemic and, as a result, a decrease in demand.

The import of fuels and lubricants to Georgia amounted to 19,080 tons in 2020, which is 1,260 tons and 6.2 percent less than in 2019. The largest supplier of this product to Georgia is Turkey - 5,590 tons (29.3 percent of total imports), followed by Russia - 3,260 tons (17.1 percent), Germany - 1,600 tons (8.7 percent) and Iran - 1,280 tons (6.7 percent).

The year 2020 was characterized by significant challenges for the oil business sector.

As the Union notes, COVID-19 is the main challenge for Georgia.

"Various restrictions imposed by the Georgian government, including regulations on the movement of vehicles, have caused less fuel consumption and reduced fuel sales," the union said.

The second major challenge was the depreciation of the Georgian national currency against foreign currencies.

"The oil prices hit a record low due to the pandemic. But, the recent reassuring information has led to another new wave of rising oil prices," said the message.

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