ABUJA: Azerbaijan exported 19,098,957 tons of oil products in January-November of this year, according to the State Customs Committee. The official figures suggest that the total value of the exported oil products made $5,896 million. The country produced over 37,717 million tons of crude oil and 26.8 billion cubic metres of natural gas in the eleven months of the year. The total value of the production in the mining industry was 18.8 billion manats in the eleven months, which is 0.8 per cent less than last year. By late 2016, the volumes of oil extraction in the country will hit 41.307 tons, while gas production volumes will amount to 242.5 mcm.
Energy-rich Azerbaijan produces three grades of crude oil – Azeri BTC, Azeri Light, and Urals. Azerbaijan exports not only crude oil, but also petroleum products. The only producer of oil products is SOCAR, which owns Baku Oil Refinery named after Heydar Aliyev. SOCAR is the sole producer of oil products in Azerbaijan. In 2015, the company announced the liquidation of Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery, which is currently being modernized.
