Azerbaijan increased oil production and exports, but reduced gas exports

In January-February 2015, Azerbaijan exported over 5.504 million tons of crude oil (+2.6% y-o-y).

There has been exported almost 4.341 million tons of raw material via BTC pipeline, inclusive of gas condensate from the Shah-Deniz deposit during the first two months of 2015 according to the report by the State Customs Committee. An export via Baku-Supsa made up 715.29 thousand tons, via Baku-Novorossiysk – 254.127 thousand tons, by railroad to Georgian ports – 194.285 thousand tons of oil.

According to the Committee, the volume of the declared oil export made up 4.462 million tons at $1.825 billion in January-February.

The State Statistics Agency reports that oil and condensate production increased by 1.6% since the beginning of the year compared to the same period last year. There was produced almost 6.944 million tons of oil and condensate in January-February.