Azerbaijan's revenue from major oil pipelines declines in 2024

In the first nine months of 2024, Azerbaijan's revenue from its main oil pipelines, including the crucial Baku-Tbilisi-Ceyhan route, totaled approximately 793.319 million manats ($466.6 million). This figure represents a 2.5% decrease compared to the same period in the previous year.

Report informs, citing the State Statistics Committee that during the reporting period, losses in the main oil pipeline network rose by 25%, from 2,800 tons in January-September 2023 to 3,500 tons in the same period of 2024.

In total, 28,859,800 tons of oil were transported through Azerbaijan's main oil pipelines in the first nine months of 2024, marking a 3.1% decrease from the same period in 2023.

In 2023, Azerbaijan's revenue from its main oil pipelines amounted to 1,101,741.9 manats ($648.1 million), representing an 11.1% decrease from 2022. Network losses also increased by 31% to 3,800 tons.