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Azerbaijan’s Oil Exports in Jan-Nov Fall 3.75% on the Year

OIL

Azerbaijan exported 23.1m mt of crude and condensates from Jan-Nov 2023, according to its Energy Ministry.

  • This is equivalent to around 519k b/d, according to Bloomberg.
  • Exports fell from 24m mt during the same period in 2022, according to Bloomberg calculations, a decline of 3.75%.
  • Of the total exports, 20.2m mt came from the Azeri-Chirag-Gunashli (ACG) and Shah Deniz projects, led by BP. The remaining tonnes came from Socar.
  • Azerbaijan pumped 27.6m mt of crude and condensates in Jan-Nov, down from 29.8m mt in the first 11 months of 2022.
  • The natural depletion of the ACG project is one of the causes of declining output, Bloomberg said.
Energy BulletsCommodities
Energy BulletsCommodities

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