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Azerbaijan sees decline in crude oil exports to India

Oil&Gas Materials 26 February 2021 14:32
Azerbaijan sees decline in crude oil exports to India

BAKU, Azerbaijan, Feb. 26

By Fidan Babayeva - Trend:

Azerbaijan exported over 1.32 million tons of crude oil to India in 2020, which is 31 percent less compared to 2019, Trend reports citing the State Statistical Committee of Azerbaijan.

According to the committee, the value of crude oil exports to India for the reporting month amounted to $452.7 million, which has slumped by 50 percent over the year.

“During the past year, 28.4 million tons of oil (together with condensate) were exported from Azerbaijan. Compared to 2019, the volume of oil exports (together with condensate) decreased by 2.9 million tons or 9.2 percent. India’s share in exports from Azerbaijan amounted to 4.2 percent,” the report reads.

The trade turnover between Azerbaijan and India in 2020 amounted to $582.7 million. Exports to Ukraine from Azerbaijan amounted to $456.7 million, imports - $125.9 million.

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Follow the author on Twitter: @Fidan_Babaeva

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