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Oil and Oil Products Kept Dominant Place in Azerbaijan’s Export Structure in 2006

Oil&Gas Materials 20 March 2007 23:17

Azerbaijan, Baku / Trend , corr. I. Khalilova / According to the balance of payment issued by the National Bank of Azerbaijan (NBA), Azerbaijan exported oil and oil products to the sum of $12 bln. in 2006. This figure makes up 92.2% out of the total volume of the Azerbaijani export, Trend reports.

The report says that oil and oil products keep on their dominant place, in spite of some reduction in their weight.

As compared with 2005, the export of oil products increased in 1.8 times.

Some 1.6 bln out of the total volume of the oil products exported fall at the oil refining production. The country exported crude oil in 2006 to the sum of $10,4 bln. At the same time, $9,9 bln fall at the crude produced by AIOC. $1.631.300.000 out of them - profitable oil falling at the share of Azerbaijan, the rest ($8.2 bln.) -repatriated by large-scale oil companies at the expense of their investments put into different oil and gas projects in the country.

SOCAR (State Oil Company of Azerbaijan) and other enterprises operating in the country exported crude oil in 2006 to the sum of $564.4 mln.

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