Sharp Decline in Azerbaijani Oil Income in January 2015

Sharp Decline in Azerbaijani Oil Income in January 2015 Azerbaijan exported 1 million 697 thousand 768 tones crude oil through Baku-Tbilisi-Ceyhan (BTC) pipeline in January, 2015: according to the CESD report based on State Oil Company of Azerbaijan Republic’s (SOCAR) official figures. Meanwhile, the country exported 169, 507 thousand tones crude oil through Baku Novorosiysk and 254, 107 thousand tones via Baku Supsa pipelines in the indicated... Read More

Azerbaijani Oil Export in 2014: Brief Overview

Azerbaijani Oil Export in 2014: Brief Overview 2014 was marked by a sudden decline in oil prices in the world market. As an oil exporter country, Azerbaijan started feeling effects of a sharp fall in oil revenue after oil price decline in the world market owing to decline of the country’s oil income. In spite of the fact that Azerbaijan was able to reduce share of oil industry both in public revenues and in the country’s Gross Domestic Product... Read More

SOCAR’s Assets Reached $ 22 Billion

SOCAR’s Assets Reached $ 22 Billion Assets of the State Oil Company of Azerbaijan (SOCAR) amount to 17 billion manat ($ 22 billion), SOCAR Vice-President on economic issues Suleyman Gasimov said during a forum on creating a new complex for oil and gas processing and petrochemical production in Azerbaijan on Wednesday. He said last year the company’s net profit amounted to 879 million manat. Transition to international financial reporting standards... Read More

BTC Oil Export Declined 7,0 % in January, 2012

BTC Oil Export Declined 7,0 % in January, 2012 Baku-Tbilisi-Ceyhan (BTC) oil exported 2,7 million tonnes of oil in January, 2012. CESD reported that, oil export dropped of 200,000 tonnes last month compare with January 2011. In total, BTC oil export declined 7,0 % in January, 2012. 32,224,000 tonnes of oil exported through BTC pipeline in 2011. Overall, since the start of the pipeline operation the pipeline has exported 178,558,000 tonnes by the... Read More