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Caspian Oil & Gas Azerbaijan - Azerbaijan’s oil export falls with priority rates

Azerbaijan’s oil export falls with priority rates
20.07.2016

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Oil export from Azerbaijan is falling, outrunning by its pace the GDP decline (-3.4% in 1st half of 2016).

The share of crude oil in Azerbaijan’s overall export made up 76.15% for Jan-Jun 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.

The State Customs Committee (SCC) reports that for Jan-Jun of the year oil export reached 10,551,458.26 tons (-6.37% versus the 2016 same term) for $2.9 bn (-39.11%) versus 11,269,151.09 tons for $4.779 bn for 1st half of 2015. This June it was exported 1,725,771.59 tons of oil for $594.8 million.

Average export price of Azeri oil, according to customs statistics, makes up $275.8 per ton or about $39.97 per barrel for Jan-Jun 2016 versus $403.74 per ton or about $54.2 per barrel for 2015. In June of the year the prices was $344.64 per ton or $46.2 a barrel.

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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