Azeri Oil Export Sinks to Lowest Level Since 2010

Azeri Oil Export Sinks to Lowest Level Since 2010

Azerbaijan exported 20, 22 million tons oil by Baku-Tbilisi-Ceyhan (BTC) in the first eight months of 2013 according to the CESD sources at the State Oil Company of Azerbaijan Republic (SOCAR). Oil export declined by 2, 2 % in the indicated period compared with the same period of 2012. 20, 66 million tons Azeri oil was exported in the first eight months of 2012.

BTC transported 29.67 million tons of the Azerbaijani in 2012 oil compared to over 32.2 million tons in 2011. Oil export through the BTC was reduced by 7,9 % last year.

Average export price of Azeri oil, according to customs statistics, still makes up $807.14 per ton in 2013, including $801.63 in August, $773.35 in July, $767.68 in June, $761.19 in May, $815.43 in April, $865.42 in March, $846.67 in February and $824.42 in January.
As of September 1, 2013, totally since the commission f the pipeline, it is transported 225.67 million tons of oil.

The total length of the BТС pipeline, which carries crude oil from the Azeri-Chirag-Gunashli oil fields in the Caspian Sea to the Turkish Mediterranean coast, is 1,768 kilometers, including the 443 kilometer section running via Azerbaijan, the 249 kilometer section via Georgia and 1,076 kilometers via Turkey

Meanwhile, Azerbaijan’s oil production falls by 0.7% in August, 2013. This year crude oil production by all producers in Azerbaijan still totals 217.245 million barrels against 320.667 million in 2012, 338.467 million barrels in 2011, 379.224 million barrels in 2010, 375.807 million barrels in 2009 and 332.07 million barrels in 2008. The State Statistics Committee reports that for January-August, 2013 the country produced 29.121 million tons that is by 1% less than production for Jan-Aug 2012. Production totaled 3.815 million tons in May (this year’s still highest level), 3.668 million tons in July and 3.643 million tons in August, 2013.

© CESD, 2013

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  1. […] article is authored by Baku-based Center for Economic and Social Development (CESD), a leading independent economic think tank in […]

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