BAKU, Azerbaijan, April 11. The State Oil Company of the Azerbaijan Republic (SOCAR) processed 5.8 million tons of oil and 3.4 billion cubic meters of gas in 2024.
Data obtained by Trend from SOCAR’s annual report on drilling, production, processing, and export indicators shows that in comparison to the previous year, oil processing decreased by 0.5 million tons, or 7.9 percent, and gas processing declined by 0.1 billion cubic meters, or 2.9 percent.
In the interim, SOCAR executed the processing of 6.3 million tons of crude oil alongside 3.5 billion cubic meters of natural gas throughout the fiscal year 2023.
Additionally, more than 2.3 million tons of oil, petrochemical, and gas-chemical products produced by SOCAR's facilities in Azerbaijan were exported to foreign markets in 2024. The volume of exported oil, petrochemical, and gas-chemical products saw a 2.8 percent increase.