12:26 - 4.07.2025

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July 4, Fineko/abc.az. The share of oil in Azerbaijan's exports decreased from 56% to 51% in the first 5 months of 2025, and without Russian oil, the role of this commodity in the country's overall export structure will continue to decline.

ABC.AZ reports that this is stated in the study of the Market Research Institute International (MRII) "Between diversification and dependence: limitations of Azerbaijan's multi-vector policy".

The document states that at the same time, oil exports grew by 7.3%, exceeding 6 million tons. The production of petroleum products declined by 7%, while their exports increased more than by 16%.

"This dynamic indicates growing shortage of oil for domestic consumption, which is being offset by external supplies," the researchers note.

"In the energy sector, the Russian area of cooperation retains the potential for expansion. Russia and Iran have agreed on the route of a gas pipeline through the territory of Azerbaijan, while supplies at the first stage may amount to up to 2 billion cu m a year. This project creates opportunities for Azerbaijan to extract transit revenues from Russian-Iranian energy cooperation," the document says.