BAKU, Azerbaijan, April 12. Oil exports to foreign markets by the State Oil Company of the Azerbaijan Republic (SOCAR) amounted to 16.6 million tons in 2024.
Data obtained by Trend from SOCAR’s annual report on drilling, production, processing, and export indicators shows that this figure includes not only the volumes extracted by SOCAR itself, but also the profit shares of oil produced by international consortia operating in Azerbaijan that are allocated to the Azerbaijani state and SOCAR.
Meanwhile, SOCAR’s oil exports to foreign markets decreased by 1.2 million tons, or 6.7 percent, compared to the previous year.
In contrast, the country’s natural gas exports rose by 6 percent, reaching 25.3 bcm. During the same reporting period, domestic natural gas consumption increased by 1.7 percent, totaling 13.7 bcm.
