Azerbaijan starts buying crude oil from Turkmenistan and Kazakhstan again

11:59 - 16.04.2024

April 16, Fineko/ Azerbaijan imported crude oil after a 7-month break from Turkmenistan and after a 10-month break from Kazakhstan.

ABC.AZ reports that according to official statistics, tankers delivered 30,574 tons of crude oil from Turkmenistan to Azerbaijan in February. The cost of imported crude oil reached $17.33 million. This is the first oil import from Turkmenistan since August 2023.

In February, 28,804 tons of crude oil for $18.97 million were imported from Kazakhstan. This is the first import since April 2023.

According to the State Statistics Committee, in two months of 2024, Azerbaijan purchased 185,702 tons of crude oil for $106.04 million from the CIS countries, which are its only customers.

Crude oil was imported from Turkmenistan at price of $566.68 per ton (~$77.07 per barrel), from Kazakhstan at price of $658.61 (~$89.57 per barrel) and from Russia at price of $552.1 (~$75.09 per barrel).

In February, the average price of a barrel of benchmark Brent crude oil was traded at $82.42 per barrel or $606.03 per ton.