Azerbaijan exported oil and gas worth over $7.7 billion between January and June in 2021, Azernews analysed.
According to the report, Azerbaijan exported 14.4 million tons of oil in January-June 2021, which is 4.5% less than the same period last year.
The total cost of oil exported from Azerbaijan for the reported period amounted to $6.3 billion, which is 50% more compared to the previous year.
Moreover, gas exports from Azerbaijan in January-June 2021 amounted to 8.9 billion m3 (growth by 35. %) that the total cost amounted to $1.45 billion (decline of 0.6%.
It should be noted that in 2020, Azerbaijan exported 28.3 million tons of oil for $8.5 billion and 13.8 billion m3 of gas for $2.7 billion.
Revenues of Azerbaijani State Oil Fund (SOFAZ) amounted to $3.9 billion, while the budget expenditures constituted $2.7 billion in the 1st half of 2021.
Meanwhile, the country‘s average daily oil production is projected to be 700,000 barrels in the 3rd quarter of the current year.