OPEC: Azerbaijan reduced oil exports by over 3% last year

In 2021, Azerbaijan's daily oil exports amounted to 483,000 barrels, 3.5% less than in 2020, Report informs, citing the annual statistical bulletin of the Organization of the Petroleum Exporting Countries (OPEC).

According to the results of 2021, the world exported a total of 41.228 million barrels of oil per day, 1.9% less than in late 2020.

Currently, Azerbaijan exports crude oil to world markets mainly through the Baku-Tbilisi-Ceyhan pipeline. The BTC pipeline transports oil from Azeri-Chirag-Guneshli (ACG) and condensates from Shah Deniz in Azerbaijan. In addition, the pipeline transports oil from Turkmenistan, Kazakhstan and Russia.

The shareholders of BTC Co are: BP (30.1%); AzBTC (25%); MOL (8.9%); Equinor (8.71%); TPAO (6.53%); Eni (5%); “Total” (5%), “Itochu” (3.4%); INPEX (2.5%), Exxon Mobil (2.5%) and ONGC (BTC) Limited (2.36%).