BAKU, Azerbaijan, June 16. Azerbaijan's revenue from the export of crude oil and petroleum products from January through May 2023 amounted to $7.22 billion compared to $8.058 billion for the same period in 2022, Trend reports with reference to the State Customs Committee.
As such, the country's revenue from the export of crude oil and petroleum products decreased by 10.4 percent year-on-year.
Meanwhile, the volume of crude oil and petroleum product exports by Azerbaijan increased from 11.384 million tons from January through May 2022 to nearly 11.753 million tons in the same period this year, showing a 3.24 percent growth.
The SCC data reveals that the share of crude oil and petroleum products in Azerbaijan's total export volume for the reporting period stood at 44.81 percent, compared to 52.27 percent the previous year.
Azerbaijan transports oil to neighboring countries and global markets through Baku-Novorossiysk, Baku-Supsa, and Baku-Tbilisi-Ceyhan (BTC) pipelines. Currently, transportation via the Baku-Supsa pipeline is suspended. Additionally, oil is exported by rail to the Georgian terminals in Batumi and Kulevi.
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