23 august 2021, 12:04

Azerbaijan exports oil and gas worth over $7.7 billion in 1H 2021

The country exports gas to Georgia, Turkey and Europe for consumers in Italy, Greece and Bulgaria.

Baku, August 23 - Neftegaz.RU. Azerbaijan exported oil and gas worth over $7.7 billion between January and June in 2021, Azernews analysed.

According to the report, Azerbaijan exported 14.4 million tons of oil in January-June 2021, which is 4.5% less than the same period last year.

The total cost of oil exported from Azerbaijan for the reported period amounted to $6.3 billion, which is 50% more compared to the previous year.

Moreover, gas exports from Azerbaijan in January-June 2021 amounted to 8.9 billion m³ (growth by 35. %) that the total cost amounted to $1.45 billion (decline of 0.6%.

It should be noted that in 2020, Azerbaijan exported 28.3 million tons of oil for $8.5 billion and 13.8 billion m³ of gas for $2.7 billion.

Revenues of Azerbaijani State Oil Fund (SOFAZ) amounted to $3.9 billion, while the budget expenditures constituted $2.7 billion in the 1^st half of 2021

According to the EIA Short-Term Energy Outlook report, the average daily oil production in Azerbaijan was 740,000 and 700,000 barrels in the 1^st and 2^nd quarters of 2021 respectively.
Meanwhile, the country's average daily oil production is projected to be 700,000 barrels in the 3^rd quarter of the current year.

#azerbaijan

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