Azerbaijan observes drop in oil transportation via BTC in 1H24

Azerbaijan's main oil pipelines transported more than 19.238 million tons of oil in the first half of 2024, down 2.1% year-on-year, Report informs, citing the country’s State Statistical Committee.

Of this, 75.2%, were transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline.

Thus, over 14.468 million tons of oil were transferred through BTC in the specified period, which is 3.7% less than in the first half of 2023.

Of the total oil transportation via BTC for six months, just under 11.774 million tons (81.4%) were Azerbaijani oil, while almost 2.695 million tons (18.6%) were Turkmen and Kazakh oil.

During the reporting period, the volume of Azerbaijani oil transported through the BTC pipeline decreased by 6.3%, while the volume of Turkmen and Kazakh oil transported through the pipeline rose by 9.8%.

The BTC pipeline currently carries mainly Azerbaijani oil from Azeri-Chirag-Guneshli (ACG) block of fields and condensate from the Shah Deniz field. In addition, the pipeline transports other volumes of crude oil and condensate, including oil from Turkmenistan, Russia, and Kazakhstan.

BTC Co shareholders include BP (30.1%); AzBTC (25%); MOL (8.9%); Equinor (8.71%); TPAO (6.53%); Eni (5%); Total (5%), ITOCU (3.4%); INPEX (2.5%), ExxonMobil (2.5%), and ONGC (BTC) Limited (2.36%).