BAKU, Azerbaijan, February 24. The total value of crude oil and natural gas production in Azerbaijan reached 3.1 billion manat ($1.8 billion) in January 2025.
Data obtained by Trend from the State Statistical Committee shows that this figure shows a drop of 142 million manat ($83.5 billion) or 4.4 percent when stacked up against the same period in 2024 (3.25 billion manat ($1.9 billion)).
This signals a downward spiral in the sector, as production took a hit in the prior year as well. In January of 2024, the value of crude oil and natural gas output in Azerbaijan dropped by 1.4 billion manat ($823.5 million), or 29.8 percent, compared to January 2023, when the value was 4.65 billion manat ($2.7 billion).
To note, the total value of crude oil and natural gas production in Azerbaijan amounted to 38 billion manat ($22.3 billion) in 2024.