16 Jan 2020 15:19

SOCAR decreased oil exports 12%, petrochemical products 22% in 2019

BAKU. Jan 16 (Interfax) - The State Oil Company of the Azerbaijan Republic (SOCAR) increased exports of petrochemical and gas-chemical products by 22% to 2.233 million tonnes in 2019 compared with 2018, the company told Interfax.

Export volumes grew in connection with the operations of the SOCAR Polymer plants, which produce polypropylene and polyethylene products, and a carbamide plant, as well as with an increase in production at a methanol plant.

The company said that SOCAR reduced oil exports by 11.6% to 21.1 million tonnes last year. "Other than volumes produced itself, the company exports profitable oil produced as part of oil contracts," SOCAR said.

According to the company, the increase in the production of gas-chemicals and petrochemicals, mainly because of the activities of the methanol and carbamide plants, was responsible for growth on the domestic consumption of natural gas increased in the country by 8.7% to 11.532 billion cubic meters.

"In addition, due to the expansion of the gas infrastructure, households in Azerbaijan increased their use of natural gas by about 8.5% in 2019," the company said.

The overall volume of oil produced in Azerbaijan in 2019 was 37.454 million tonnes, and gas was 35.617 bcm.