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Azerbaijan’s revenues from crude oil sales soar

Oil&Gas Materials 25 March 2023 11:55 (UTC +04:00)
Azerbaijan’s revenues from crude oil sales soar
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, March 25. Azerbaijan exported around 5.175 million tons of crude oil and petroleum products worth almost $3.251 billion from January through February 2023, as compared to 4.9 million tons worth $2.9 billion in the same period in 2022, Trend reports with reference to the State Customs Committee.

As such, Azerbaijan’s revenues from crude oil and petroleum products’ exports grew by 13.8 percent year-on-year.

Crude oil and petroleum products accounted for 71.91 percent of Azerbaijan’s total exports in the first two months of 2023, as compared to 49.33 percent in the same period in 2022.

There are three main oil pipelines transporting oil from Azerbaijan to its neighbours and on to world markets: Baku-Novorossiysk Pipeline, Baku-Supsa Pipeline and Baku-Tbilisi-Ceyhan (BTC) Pipeline. Baku-Supsa is not operational at the moment.

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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Follow the author on Twitter: @Lyaman_Zeyn

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