Khoshbakht Yusifzade: Azerbaijan has supplied hundreds of millions of tons of oil to world markets

Mon 22 Apr 2019 12:04 GMT | 16:04 Local Time

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Until today, Azerbaijan has supplied 506 million tons of oil to foreign markets, Khoshbakht Yusifzadeh, First Vice-President of SOCAR, said at the 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals in Baku, Trend reports.

According to him, out of this volume, 383 million tons were delivered via the Baku-Tbilisi-Ceyhan pipeline (BTC). Yusifzadeh noted that about 1.6 billion cubic meters of gas were exported through the Trans-Anatolian gas pipeline (TANAP) so far.

The 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals started in Baku on April 22. The SOCAR Forum is the largest event in the region in the field of oil and gas.

Each year the Forum is attended by over 300 delegates comprising the representatives of major oil and gas companies, refineries, trading firms, ports, terminals, banks and analytical agencies.

The agenda of the Forum includes, among other items, regional gas projects; potential imbalances in the global hydrocarbon market in 2019; new oil and gas fields in the region and their impact on trade flows and export routes; Caspian and Central Asian oil in a global context; and key export markets for the region’s refineries and trade flows. The participants will also discuss trends in the global markets for petrochemical products including price trends, trade flows and technology development, and current state and prospects of Transcaucasian railway routes to the ports of Georgia.

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