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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.

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

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 1st 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 1st and 2nd quarters of 2021 respectively.
Meanwhile, the country's average daily oil production is projected to be 700,000 barrels in the 3rd quarter of the current year.

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