Azerbaijani oil income declined by about 2.0 times

Azerbaijani oil income declined by 2.0 times

The State Customs Committee of Azerbaijan Republic has reported that Azerbaijani oil export was $2.315 billion US for Jan-May 2016 versus $4.035 billion US for the same period in 2015. The official statistics show that Azerbaijan oil export declined by 1.74 times in the first five months of 2016 compared to the same period previous year.

Azerbaijan oil export was $429.809 million US on May 2016 against $759.8 million US for May 2015. The monthly oil export on May 2016 decreased by about 1.8 times compared to the same month in 2015.

The share of crude oil in Azerbaijan’s overall export made up 75.91% for Jan-May 2016 against 77.61% for 2015, 84.32% in 2014, 84.44% in 2013, 84.6% in 2012, 86.62% in 2011 and 86.53% in 2010. The share of oil in export made up 81.57% in 2009.
Over Jan-May of the year oil export reached 8,825,686.67 tons (in accordance with the control and measuring instruments data) that is less than the export for Jan-May 2015 (9,698.937.42 tons) by 9%.

Average export price of Azeri oil, according to customs statistics, makes up $262.3 US per ton or about $35.16 US per barrel for Jan-May 2016 versus $403.74 US per ton or about $54.2 US per barrel for 2015.

In 2015 oil export reached 32,520,401.97 tons (-1.58% year-on-year).

Cargo custom declarations registered 21,960,322.54 tons for $8.866 bn that means the reduction of proceeds by 51.8% year-on-year and physical export by 7%.

In 2015 it was pumped 26,678,361 tons via Baku-Tbilisi-Ceyhan (BTC) named after Heydar Aliyev, 4,222,614.70 tons via Baku-Supsa pipeline, 1,186,918 tons via Baku-Novorossiysk pipeline and 432,508.27 tons by rail via Baku-Batumi route.

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