BAKU, Azerbaijan, January 18. Azerbaijan disclosed a revenue of over $16 billion from the export of crude oil and petroleum products in 2023, as outlined by the State Customs Committee (SCC), Trend reports.
This marked a decrease from the $19.5 billion recorded in 2022, reflecting a 16.6 percent year-on-year decline.
Despite the decline in revenue, the volume of exports for crude oil and petroleum products from Azerbaijan experienced a marginal increase of 0.08 percent, rising from 26.024 million tons in 2022 to 26.047 million tons in 2023.
According to the State Customs Committee, the share of crude oil and petroleum products in Azerbaijan's total exports during the reporting period amounted to 47.91 percent, down from 51.08 percent in the previous year.
Azerbaijan transports its oil to neighboring countries and global markets through three pipelines: Baku-Novorossiysk, Baku-Supsa, and Baku-Tbilisi-Ceyhan (BTC). Currently, transportation via the Baku-Supsa pipeline is temporarily suspended.
Additionally, oil is exported by rail to terminals in Batumi and Kulevi (Georgia).
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