Azerbaijan exports 11.3m tons of oil in 2022

By Azernews

By Ayya Lmahamad

Azerbaijan has exported 11.3 million tons of oil worth $8 billion from January to May 2022, Azernews reports, citing the State Customs Committee.

In the first five months of the year, Italy was the main oil importer from Azerbaijan, accounting for 4.7 million tons of oil worth $3.3 billion.

The top five countries in terms of oil imports from Azerbaijan were Italy, Israel (1.1 million tons of oil worth $855.5 million), India (959,145 tons of oil worth $770 million), the UK (613,731 tons of oil worth $463.4 million) and Portugal (607,944 tons of oil worth $428.1 million).

Meanwhile, Azerbaijan exported 216,555 tons of oil worth $118.9 million to Turkey and 506,349 tons of oil worth $304.5 million to Ukraine in the first five months of this year.

During the reported months the share of oil in the total structure of exports amounted to 52.2 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.