The export of Azerbaijan’s declared oil in 2021 amounted to 27 million 116 thousand 60.62 tons, which is 6.6% lower than in 2020.
According to the report of the State Customs Committee of the Azerbaijan Republic, the total value of exported oil amounted to $13 billion 218 million 936.05 thousand (an increase of 41.2%).
Based on these data, it turns out that in 2021, the average export price of Azerbaijani oil was $487.49 per ton, or $65.88 per barrel.
It should be noted that on January 5 this year, SOCAR official representative Ibrahim Ahmedov reported that the average price of Azerbaijani oil on CIF delivery terms in 2021 was $71.6 per barrel (an increase of 63.8%).
The State Customs Committee reports that the share of oil in the country’s total export structure in 2021 amounted to 59.53% (68.15% in 2020).
According to the State Customs Committee, Italy traditionally remains the main buyer of Azerbaijani oil, which accounted for 46.4% of all “black gold” exports in 2021. In addition to Italy, the TOP-3 buyers also included Israel and Croatia.
In general, Azerbaijani oil was mainly supplied to European countries, although China, India, Tunisia, Canada, Thailand, Vietnam and Turkey also remain among regular.
Caspian Barrel
