Day: March 22, 2024
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NPR News: 03-22-2024 3AM EDT
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Azerbaijani oil price drops
In January of this year, Azerbaijan exported 28,058.72 tons of oil products worth 17,434.46 thousand US dollars. The State Customs Committee, the value of the oil products exported by Azerbaijan during the reporting period decreased by 2.6 times and the volume by 2.4 times compared to the corresponding period of 2023, according to Azerbaijan in Focus, reporting Azernews.
Last year, Azerbaijan exported 925,225.07 oil products worth 572,210.25 thousand US dollars.
It should be noted that during the reporting period, the value of the oil products exported by Azerbaijan increased by 8.5% and the volume by 20% compared to the indicator of 2022.
The change in the oil product export also raised some questions about the reasons and perspectives behind the matter.
Speaking on the issue to Azernews, American expert Peter Tase, while explaining the reasons, noted that the legislation approved by the National Assembly of Azerbaijan in support of defending the environmental resources and development of green energy are an outstanding move that will improve the economic prosperity of Azerbaijan and have increased environmental results towards the European continent.
“These actions delivered by Azerbaijan are ambitious and ought to be followed by the world’s most developed nations.”
According to him, Baku is seriously promoting the renewable energy industry.
“The traditional forms of energy that have powered human progress over the last century are evolving and Azerbaijan under the guidance and statecraft of President Ilham Aliyev, has become a beacon of prosperity and democracy in Eurasia. The demand for affordable and reliable energy is only increasing and Baku is rapidly shifting towards renewable energy,” he added.
“The challenge at hand is how to continue to power human progress in a way that is reliable and affordable but also, critically, more sustainable and equitable; these tenets are artfully and vigorously being perfected by the scientists and leadership of Azerbaijan,” Tase concluded.
The post Azerbaijan shifts to renwables reducing oil product exports appeared first on Azerbaijan In Focus.