BAKU — Azerbaijan’s revenues from main oil pipelines reached AZN 538.3 million in the first half of 2024, reflecting a modest increase of 0.5% compared to the same period last year.

According to Azeri-Press News Agency, the revenues for January to June 2024 rose slightly from AZN 535.3 million reported during the corresponding period in 2023. Despite the increase in revenue, the total volume of oil transported through the pipelines saw a 2.1% decrease year-on-year, totaling 19.2 million tons. The Baku-Tbilisi-Ceyhan (BTC) oil export pipeline handled the majority of the transportation, accounting for 75.2% of the total volume.

During the reporting period, 14.5 million tons of oil were transported through the BTC pipeline, which marks a 3.7% decline compared to the previous year. In 2023, Azerbaijan’s revenues from main oil pipelines amounted to AZN 1.1 billion, reflecting an 11.1% decrease compared to the previous year. However, the total oil transported through the main pipelines increased by 5.2% to 39.8 million tons, with the BTC pipeline handling 75.9% of the total, amounting to 30.2 million tons—a 1.49% increase year-on-year.