Azerbaijan's share in oil supply to Italy reaches almost 12%

In January 2025, Italy imported 540,614 tons of oil from Azerbaijan, marking a 21.1% increase year-on-year, Report informs, citing the Italian Ministry of Environment and Energy Security.

During this period, Azerbaijan supplied 181,107 tons of Azeri Blend oil and 359,507 tons of Azeri Light oil. While Azeri Blend exports decreased by 34.3%, Azeri Light exports saw a significant 2.1-fold increase compared to the previous year.

Italy purchased Azeri Blend oil at $82.56 per barrel in January 2025, down from $85.95 in January 2024. Azeri Light oil was sold at $85.27 per barrel, slightly lower than the $87.44 recorded a year earlier.

Overall, Italy imported 4.568 million tons of oil in January 2025, a 10.8% decline year-on-year, at an average price of $78.84 per barrel, compared to $80.81 in January 2024. During this time, Azerbaijan accounted for 11.8% of Italy's total oil imports.

Azerbaijan ranks as the third-largest oil supplier to Italy, following Libya (just under 1.068 million tons) and Kazakhstan (598,177 tons). Other key suppliers include Saudi Arabia (452,196 tons), Nigeria (421,835 tons), and Iraq (295,133 tons).

In 2024, Azerbaijan exported 9.3 million tons of oil to Italy, a 17.7% decrease from the previous year, comprising 16.4% of Italy's total oil imports during that time.