Azerbaijani oil export declined by 7 %

Azerbaijani oil export declined by 7 % Azerbaijani oil export decreased by 6.86% in June 2016 compared with previous month. According to the State Oil Company of Azerbaijan Republic (SOCAR) reports total export was 1.676 million tons of oil in June against 1.799 million tons in May. Meanwhile, Azerbaijani oil export was 1.449 million tons in April, and 1.9 million tons in March 2016. At that, June’s oil export via Baku-Novorossiysk oil pipeline... Read More

Azerbaijani Oil Export Declined by 23.7 % in April 2016

Azerbaijani Oil Export Declined by 23.7 % in April 2016 State Oil Company of Azerbaijan Republic (SOCAR) exported 159 599 tons of crude oil from Novorossiysk port, 176 598 tons from Supsa port, 1 112 953 tons from Ceyhan port in April 2016.Generally, 239 536 tons of crude oil was exported from Novorossiysk port, 776 198 tons from Supsa, 5 741 694 tons from Ceyhan port, 14 946 tons from Kulevi port in January-April 2016. Download Full Report Here  Read More

Azerbaijani Oil Income Declined by 22.0 % in October

Azerbaijani Oil Income Declined by 22.0 % in October % State Oil Company of Azerbaijan Republic (SOCAR) 1.779 million tons of oil in October against 2.175 million tons in September, 1.211 million tons in August, 1.448 million in July, 2.264 million tons in June (the best index for 2015), 1.69 million tons of oil in May and 2.121 million tons in January. In October the oil was not exported via Baku-Novorossiysk pipeline versus September’s export... Read More

Azerbaijani Oil Income in April 2015

Azerbaijani Oil Income in April 2015 Azerbaijan exported 1.705 million tons of oil in April 2015 against 1.649 million tons in March, 1.969 million tons in February and 2.121 million tons in January this year. Meanwhile, oil export via Baku-Novorossiysk reached 84,701 tons, Baku-Supsa – 254,164 tons, and Baku-Tbilisi-Ceyhan (BTC) n.a. Heydar Aliyev oil pipeline – 1.37 million tons. The SOCAR has announced that Azerbaijani oil export grew... Read More

Azerbaijan Economy in 2014

Azerbaijan Economy in 2014 Decline of oil price in the world market was the main character of Azerbaijan economy in 2014. As an oil exporter country, Azerbaijan might face the effects of a sharp fall in oil revenue after oil price decline in the world market. Azerbaijan is heavily dependent on oil and natural gas export revenues. In fact, 2014 was somehow successful for Azerbaijan economy since the country was able to reserve growth in the almost... Read More

SOCAR reacts to falling energy prices by cutting oil export

SOCAR reacts to falling energy prices by cutting oil export State Oil Company of Azerbaijan (SOCAR) reduced export of petroleum products in November 2014 by 41.5% compared to the previous month. According to the SOCAR, overall export of Azeri oil products totaled 77,851 tons in November versus 133,067 tons in October, 183,931 tons in September, 280,705 tons in July (the best level for 2014) and 21,983 tons in April (the worst monthly index). This... Read More

SOFAZ’s extra budgetary expenses reached to $ 1.24 billion US

SOFAZ’s extra budgetary expenses reached to $ 1.24 billion US Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2014 reached 10.13 billion manats ($12.99 billion US), while budget expenditures constituted 8.04 billion manats ($ 10.30 billion US). Revenue of 9.97 billion manats ($ 12.78 billion US) was received from the implementation of oil and gas agreements, including 9.95 billion... Read More

Azerbaijan Economy in the First Half of 2014; Brief Overview

Azerbaijan Economy in the First Half of 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first half of year on July, 15, 2014. Both independent and official reports show that oil GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, oil GDP decreased 3.9 % in the first four months of 2014 since CESD calculations found out 4.8... Read More

Azerbaijani Oil Export in Decline

Azerbaijani Oil Export in Decline Azerbaijan State Oil Company (SOCAR) reported that a total of 24,357,746 tons of Azerbaijani crude oil was exported to world markets through the Baku-Tbilisi- Ceyhan (BTC) port in the first ten months of 2013. The export was 2,414,780 tons in October, 2013. Azerbaijani oil export through BTC in the first ten months of 2013 declined by 1,0 % compared to the same period of 2012. More than 24,594 million tons oil was... Read More

SOCAR oil export declined by 4,0 %

SOCAR oil export declined by 4,0 % State Oil Company of Azerbaijan (SOCAR) exported 8,392m tonnes of oil via the Baku-Tbilisi-Ceyhan pipeline (BTC) in the first five months of 2013. Compared to the same period last year, exports through the pipeline decreased by 341,000 tonnes, SOCAR reported. SOCAR exported 8, 733 million tonnes in the first five months in 2012. Concernig to monthly export in 2013, the export was 1, 429 million tonnes in January,... Read More

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