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Azerbaijan’s revenues from oil exports to Spain soar

Oil&Gas Materials 31 January 2023 14:48 (UTC +04:00)
Azerbaijan’s revenues from oil exports to Spain soar
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, January 31. Azerbaijan exported 1.393 million tons of crude oil to Spain in 2022, showing a 9.6 percent growth compared to 1.271 million tons in 2021, Trend reports with reference to Azerbaijan’s State Customs Committee.

The value of exports rose from $552.661 million to $998.958 million, an increase by 80.8 percent year-on-year.

Spain came in 4th for the volume of crude oil imports from Azerbaijan last year.

Azerbaijan’s crude oil and oil exports exceeded 26.024 million tons valued at $19.484 billion as of 2022, or 4.03 percent lower in terms of volume and 47.4 percent higher in terms of value as compared to 2021.

There are three main oil pipelines transporting oil from Azerbaijan to its neighbors and on to world markets: Baku-Novorossiysk Pipeline, Baku-Supsa Pipeline and Baku-Tbilisi-Ceyhan (BTC) Pipeline.

In addition, railway lines traversing the length of Azerbaijan are also used to convey oil to the Batumi and Kulevi terminals located on the Black Sea along the coast of Georgia.

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