Italy imported 9.3M tons of oil from Azerbaijan in 2024

Italy imported 9.3 million tons of oil from Azerbaijan in 2024, which is 17.7% less than in 2023, Report informs referring to the Italian Ministry of Environment and Energy Security.

Last year, 4.5 million tons of Azeri Blend oil (an increase of 12.9%) and 4.8 million tons of Azeri Light oil (a decrease of 1.5 times) were supplied from Azerbaijan. Azeri Blend oil was purchased by Italy at $86.34 per barrel (in 2023 - at $86.31 per barrel), Azeri Light - at $85.83 per barrel ($89.21).

In total, in 2024, the country imported 56.7 million tons of oil (a decrease of 7.4%).

Thus, Azerbaijan accounted for 16.4% of supplies. In addition to Azerbaijan, which took 2nd place, the list of major oil suppliers to Italy included: Libya (11.9 million tons), Kazakhstan (8.3 million tons), Iraq (5.3 million tons), the US (4.9 million tons), Saudi Arabia (almost 4 million tons), and Nigeria (3.9 million tons).