Georgia’s exports of oil and petroleum products rose sharply in January–May 2026, driven by the launch of a new refinery on the country’s Black Sea coast, according to data from the National Statistics Office (Geostat), as cited by bm.ge.

Iran’s Oil Minister Mohsen Paknejad has said the country maintained uninterrupted oil production and exports during 40 days of US-Israeli strikes, adding that Tehran is also examining new revenue opportunities linked to the Strait of Hormuz.

Iran says it has managed to circumvent what it describes as a US maritime blockade in the Strait of Hormuz by using the southern Jask port to maintain oil exports.

Ukrainian drones targeted a major Russian oil export hub on the Baltic Sea overnight, intensifying the fires that have been burning since a series of attacks started on Wednesday.

Armenian Deputy Prime Minister Mher Grigoryan has confirmed that he recently discussed the potential import of Azerbaijani oil and petroleum products during a meeting in Gabala with Azerbaijan’s Deputy Prime Minister Shahin Mustafayev, RFE/RL’s Armenian Service reported.

Azerbaijan exported more than 12 million tons of crude oil worth $6.23 billion to Italy in January–October this year, marking a 29.8% increase in volume and a 7% rise in value, according to the State Customs Committee.

Azerbaijan’s non-oil exports totaled $2.6 billion in January–September 2025, reflecting a 7.7% increase compared to the same period in 2024.

In the first quarter of 2025, BTC Co. spent $32 million in operating expenditure and $13 million in capital expenditure.

In January-February 2025, Azerbaijan's non-oil and gas exports grew by 6.6% year-on-year, totaling $485 million, according to the Center for Analysis of Economic Reforms and Communication.