SOCAR increases crude oil exports by 18%

Baku. 27 July. REPORT.AZ/ State Oil Company of Azerbaijan (SOCAR) has increased its crude oil export by 18% and made 6,1 million tons in the II quarter of this year compared to the same period last year.

Report informs referring to the company, export of the crude oil in June this year prevailed the indicators of last year by 24% and reached 2.1 million tons. It was noted that the export of oil products increased by 19%, while 350,000 tons of oil products were exported in April-May-June last year, and this figure exceeded 410,000 tons this year. Export of diesel fuel increased by about 48%, absolute isopropyl alcohol - 69%, liquid pyrolysis resin - 27%, propylene - 30%, while export of whole butylene butadiene fractions - by 37%.

Speaking about positive dynamics of oil and oil products exports Elshad Nasirov, vice president for investments and marketing of SOCAR, said, that increasing of SOCAR’ share from 11,65% to 25% on Azeri-Chirag-Gunashli (ACG) fields increased the amount of crude oil exported by SOCAR, as well as higher crude oil produced in the second quarter of the current year compared to the corresponding period of 2017, has led to an increase in the volume of exported oil products.