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Azerbaijan-exported oil products amount $2.3bn in 1Q2006

Oil&Gas Materials 9 June 2006 17:01 (UTC +04:00)

During the 1Q2006, oil products in amount of nearly $2.3bn have been exported from Azerbaijan, totaling 92.5% of the total export of the country, Trend reports with reference to payment balance issued by National Bank of Azerbaijan. The oil products export displayed a 2.3 times increase year-over-year.

Trend reports from total amount of exported oil products finished products amount $371mln and crude oil $1.9bn. From this amount, $1.8bn is crude oil produced by AIOC. This amount, in turn, splits to $346mln to Azerbaijans account and $926mln repatriated by large oil companies at the cost of direct investments in oil&gas projects in the country in order to reduce foreign investments. Foreign shareholders of the consortium exported oil in amount of $532mln.

During 1Q, SOCAR and other national companies exported oil in amount of $103mln.

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