Azerbaijan exports oil, gas products worth $2.9bn in 2020
By Akbar Mammadov
Azerbaijan exported oil and gas products worth 2 billion 953 million 536,42 thousand dollars in January-February 2020, according to the State Custom Committee (SCC) report.
Oil and gas sector amounted to 90.90 per cent of the country's overall exports in the reported period.
The export of oil and crude oil products declared by the customs from Azerbaijan in January-February 2020 amounted to 5 billion 679 million 384,28 thousand tonnes. The statistic value of crude oil and crude oil products was 2 billion 727 million 328,79 thousand dollars.
Gas production in the reported period amounted to 1 billion 371 million 330.08 thousand cubic meters and was worth $158 million 751.3 thousand.
The share of crude oil in the total value of the exported goods has been 83.93 per cent, whereas gas was 4.89 per cent.
Aside from crude oil products, oil and oil products made out of bituminous rocks constituted 2.01 per cent of the exported oil and gas goods of 90.90 per cent. The total value of these products declared by the customs in January-February 2020 amounted 65 million 417,92 thousand dollars.
Oil and gas exports in the first months of 2020 decreased compared to the same period in 2019.
In January-February 2019, the declared gas export from Azerbaijan amounted to 2 billion 19 million 599.2 thousand cubic meters for $212 million 357.69 thousand. Thus, for the reporting period 2020, gas export decreased in quantitative terms by 32.1%, in monetary terms - by 25.3%.
In January-February 2019, the declared crude oil export from Azerbaijan amounted to 5 billion 781 million 785.43 thousand tonnes for 2 billion 603 million 955,57 thousand dollars. Thus, for the reporting period 2020, crude oil export also decreased in quantitative terms by 5.5%.
The State Customs Committee maintains export statistics based on the declaration. The declaration of gas sold is provided after the actual sale, and not at the time of its pumping through pipelines.
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Akbar Mammadov is AzerNews’ staff journalist, follow him on Twitter: @AkbarMammadov97
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