Azerbaijan exports 12.9m tons of oil in 1H2022

By Azernews

By Ayya Lmahamad

Azerbaijan exported 12.9 million tons of oil worth $9.3 billion in the first half of 2022, Azernews reports, citing the State Customs Committee.

From January to June 2022, Italy was the primary importer of Azerbaijani oil, accounting for 5 million tons of oil worth $3.6 billion.

The top five countries in terms of oil imports from Azerbaijan were Italy, Israel (1.2 million tons of oil worth $930.3 million), India (959,145 tons of oil worth $770 million), the UK (753,066 tons of oil worth $594.1 million) and Portugal (607,944 tons of oil worth $428.1 million).

Meanwhile, Azerbaijan exported 218,277 tons of oil worth $120.1 million to Turkey and 506,349 tons of oil worth $304.5 million to Ukraine in the first six months of this year.

During the reported months the share of oil in the total structure of exports amounted to 50.6 percent.

In 2021, Azerbaijan exported 27.1 million tons of oil worth $13.2 billion. The top five countries in terms of oil imports from Azerbaijan were Italy, Israel, Croatia, Germany, and Portugal. In addition, Azerbaijan produced 34.6 million tons of crude oil in 2021. The slight increase in oil production last year was primarily due to the gradual elimination of voluntary oil output cuts under the OPEC+deal.