Azerbaijan sees decline in oil transportation via BTC

In January–May 2024, Azerbaijan's main oil pipelines transported 15,971,100 tons of oil, 1.8% less than in the same period last year, Report informs, citing the State Statistical Committee.

Of this, 75.1%, or 11,986,400 tons, were transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline, 3.6% less than in the same period of 2023.

During the reporting period, 9,749,000 tons (81.3%) were Azerbaijani oil, while 2,237,400 tons (18.7%) were Turkmen and Kazakh oil. In the same period, the volume of Azerbaijani oil transported through the BTC pipeline decreased by 7%, while the volume of Turkmen and Kazakh oil transported through the pipeline rose by 14.8%.

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%).