By Reuters Staff
1 Min Read
BAKU (Reuters) - Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey fell by 11.2% year on year to 11.1 million tonnes in the first five months of the year, the State Statistics Committee said on Wednesday.
The BTC pipeline is used to export oil from the Azeri, Chirag and Guneshli oilfields operated by BP.
Azerbaijan’s oil exports in the first five months of the year totalled 14.7 million tonnes, about 75.6% of which was via the BTC pipeline.
The volume of transit oil through BTC fell to 1.523 million tonnes in January-May, down from 1.790 million tonnes a year earlier.
The world will need a lot more oil from OPEC+ as global demand is on track to return to pre-pandemic levels at the end of next year, the International Energy Agency said on Friday, just a few weeks after saying long-term oil production must decline to reduce emissions.