Amount of expenditure on BTC down in Q12024

In the first quarter of 2024, Baku-Tbilisi-Ceyhan (BTC) Co. spent about $33 million in operating expenditure and $7 million in capital expenditure, representing a decline of $1 million, or 2.94%, and a decrease of $3 million, or 30%, respectively, from the same period of last year, Report informs, referring to BP-Azerbaijan.

Since the 1,768 km BTC pipeline became operational in June 2006 until the end of the first quarter of 2024, it carried a total of about 4.3 billion barrels (about 568 million tons) of crude oil loaded on 5,629 tankers and sent to world markets.

In the first quarter of 2024, about 54 million barrels (7 million tons) of BTC-exported crude oil were lifted at Ceyhan and loaded on 72 tankers.

The BTC pipeline currently carries mainly ACG crude oil and Shah Deniz condensate from Azerbaijan. In addition, other volumes of Caspian regional crude oil and condensate (Kazakhstan, Turkmenistan, and SOCAR non-ACG volumes) continue to be transported via BTC.

BTC Co. shareholders are: bp (30.1%), SOCAR (25.00%), MOL (8.90%), Equinor (8.71%), TPAO (6.53%), Eni (5.00%), TotalEnergies (5.00%), ITOCHU (3.40%), INPEX (2.50%), ExxonMobil (2.50%), and ONGCVidesh (2.36%).