Azerbaijan’s crude oil exports to Portugal soar

Azerbaijan exported 170,137.97 tons of crude oil worth over $104.1 million to Portugal in the first two months of 2024, Report informs, citing the State Customs Committee.

This is an increase of 83.04 percent in volume and 65.6 percent in value compared to the indicator in January-February of 2023.

In general, the share of crude oil exported to Portugal in the total oil exports of Azerbaijan for the reporting period was 3.71 percent.

Overall, Azerbaijan exported 4,595,490.11 tons of crude oil and crude oil products obtained from bituminous rocks, valued at $2,826,058,640 during January-February of 2024.

In that period, Azerbaijan conducted trade transactions with foreign countries worth $7.227 billion.

The export operations accounted for $4.780 billion, and imports for $2.447 billion.