Azerbaijani oil export declined by 4.5 %

Azerbaijani oil export declined by 4.5 %

Azerbaijan exported 5 million 374 thousand 87 tons oil through the Baku-Tbilisi-Ceyhan pipeline in the first four months of 2017. Meanwhile, 878 thousand 664 tons oil exported through Supsa and 489 thousand 206 tons by Novorossiyski. It means that Azerbaijan exported 6 million 741 thousand 959 tons oil in the indicated period.

According to the SOCAR’s report, Azerbaijan exported 5 million 741 thousand 694 tons oil through the Baku-Tbilisi-Ceyhan pipeline in the first four months of 2016. In the same period, 239 thousand 536 tons oil was delivered by Novorossiysk and 776 thousand 198 tons oil through Supsa. Meanwhile, 14 thousand 946 tons oil was delivered by Kulevi terminal. Figures show that 6 million 772 thousand 374 tons oil was exported in the first four months of 2016.

The official figures confirm that Azerbaijan oil export reduced by 4.5 % in April-January 2017 compared to the same period of 2016.

SOCAR has reported that average price of Azerlight oil in the world market was 53,83 dollar per barrel in April 2017. Meanwhile, the price was 43,02 dollar per barrel in April 2016. It shows that Azerbaijani oil price increased by 25.1 % in April 2017 compared to the same month of 2016.

At the same time, Azerbaijan’s exports of refined oil products fell 21.5 percent year-on-year in January-April to 353,899 tonnes from 450,750 tonnes in the same period last year. In 2016, Azerbaijan exported 1.13 million tonnes of oil products, down from 1.50 million in 2015, with exports of fuel oil, jet fuel and diesel down.

Reminded here that Azerbaijan oil output was decreased to 41,035 million tons in 2016 from 50, 795 million tons in 2010. CESD forecasts that decline process will continue in 2017, too.

© CESD, 2017

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