From January through March 2026, Azerbaijan's oil and petroleum product exports to Croatia decreased significantly in both value and volume. This decline is compared to the same period in 2025, when exports were much higher.
Azerbaijan's crude oil and petroleum product exports to the Czech Republic experienced a significant decrease in both value and volume during the first quarter of 2026, compared to the same period in the previous year.
Azerbaijan’s oil and petroleum product exports to Germany declined significantly in both volume and value compared to the previous year.
Azerbaijan's trade performance in early 2026 reflects a decline in electricity exports and overall foreign trade, although the country maintains a positive trade balance due to a sharper drop in imports.
Azerbaijan's electricity production from renewable sources saw a strong contribution from hydropower, wind, and solar in the first quarter of 2026. Thermal plants remained the dominant source. Wind power experienced notable growth compared to the previous year.
Azerbaijan’s natural gas exports saw a volume increase despite a decrease in value, contributing to a positive trade balance, as the country navigates a decline in overall foreign trade activity.
Azerbaijan's production of motor gasoline declined in the first two months of 2026 compared to the previous year. This decrease reflects a reduction in output over the period. The country's gasoline reserves as of April 1 were also reported.
The U.S. Energy Information Administration (EIA) has released its forecast for oil and other liquid hydrocarbon production in the Middle East.
The report highlights a sharp shift in global oil market dynamics tied to the ongoing Iran conflict. Before the escalation, the EIA said it viewed the market as oversupplied, with inventories rising quickly and prices trending downward.
SOCAR Polymer leads the growth in Azerbaijan's non-oil sector exports, showing significant year-on-year improvement in early 2026.
SOCAR's export operations in early 2026 saw a significant decline compared to the previous year, with non-oil sector exports led by SOCAR Polymer and several other state-owned companies.
Loan investment in Azerbaijan’s mining and utilities sector declined as of early March 2026. The decrease reflects both a monthly and annual drop in financing from banks and non-banking institutions.
Increasing renewable energy capacity and investment in green projects could strengthen energy security, attract capital, and support sustainable economic growth.
Azerbaijan's export of crude oil and petroleum products from bituminous rocks to T's State Customs Committee, both the export volume and value experienced notable increases compared to the same period in 2025.
Azerbaijan's foreign trade in early 2026 saw a significant decline in both exports and imports, while the country recorded a positive trade balance despite the decrease.
In January 2026, Azerbaijan exported natural gas to Serbia, generating notable revenue. However, compared to the same period last year, both the export value and volume experienced a decline. This decrease reflects a reduction in both monetary terms and the volume of gas exported.
Russia has increased its imports of electricity from Azerbaijan, reflecting a rise in bilateral energy trade at the start of the year.
Azerbaijan's petroleum sector experienced significant declines in key product outputs during the first two months of 2026, reflecting a challenging year-on-year performance.
Azerbaijan's extractive industry faced declines in key petroleum product outputs in early 2026, while overall sector performance saw a slight increase in value.
Azerbaijan's petroleum sector has experienced a significant downturn in production and value during the first two months of 2026, with declines across most key products, signaling a challenging economic environment for the industry.
Azerbaijan's petroleum product output fell, with kerosene production falling along with it compared to the same period the previous year.
Azerbaijan’s oil exports to Germany saw a sharp decline, reflecting a broader contraction in trade flows during the reporting period.
In January, Azerbaijan earned significant revenue from exporting natural gas to Syria, continuing the energy partnership established under the memorandum with SOCAR.
Azerbaijan's natural gas production saw a 2.3% year-on-year increase in early 2026, reflecting growth in both overall output and marketable gas production, contributing to a slight rise in the extractive industry's total value.
The IEA's revised global oil demand forecast reflects ongoing market disruptions, including geopolitical tensions and supply chain challenges.
Azerbaijan's crude oil and petroleum exports to Greece experienced a sharp decline in both volume and value in January, reflecting broader trends in the country’s export performance.
In January, Azerbaijan exported a substantial amount of crude oil and petroleum products derived from bituminous rocks to T
In 2025, Azerbaijan sent 1.93 billion cubic meters of natural gas to Bulgaria, valued at $688.8 million, a substantial increase from the previous year.
Azerbaijan’s natural gas exports to Georgia declined in both value and volume in 2025, while overall exports saw a slight increase in value but a decrease in volume compared to the previous year.
The largest importers of Azerbaijani oil in January 2026 have been identified. Italy remained the leading buyer, followed by Romania and Portugal. Overall, Azerbaijan’s crude oil and petroleum product exports saw mixed year-on-year dynamics during the reporting month.
The Astara modular power plant has reached a significant milestone in its electricity production. Commissioned 20 years ago in Arjivan village, it plays a key role in the region’s energy supply. The plant is equipped with multiple gas piston units, contributing to its overall capacity.
Snapshot of the most notable developments in Azerbaijan’s oil and gas sector over the past week. Key updates span upstream operations, international cooperation, and financial performance.
Azerbaijan's crude oil and petroleum product exports to Romania saw significant growth in 2025, with a 36.7% increase in value and a 49.6% rise in volume compared to the previous year.
Iran has ramped up its electricity purchases from Azerbaijan, showcasing a blossoming energy trade between the two nations.
Azerbaijan increased both the volume and value of natural gas exports to Bulgaria in January–November 2025, with revenues rising to $638.9 million amid higher shipments.
Azerbaijan's Ministry of Energy received nearly 12,000 citizen inquiries in 2025, focusing on energy supply and related issues, with most being addressed through executive actions.
In 2025, Azerbaijan saw growth in wind and solar power production. Overall electricity production increased, with both thermal and renewable sources contributing to the rise. The Ministry of Energy's data highlights significant output from wind and solar plants.
The increase in petroleum imports from Uzbekistan underscores Kyrgyzstan’s deepening regional energy trade and efforts to broaden supply sources amid shifting demand and price dynamics.
Kyrgyzstan’s higher petroleum product imports from Germany point to increased demand and strengthening trade ties, reflected in notable growth in both volumes and import value.
In January–October of the current year, Azerbaijan increased the value of natural gas exports to Greece against the backdrop of an overall increase in revenues from gas exports, despite a decrease in the physical volumes of supplies and a reduction in imports.
Azerbaijan exported 153.15 million cubic meters of natural gas worth $52.5 million to Syria during the first 10 months of 2025
Crude oil production in Azerbaijan reached around 25 million tons in the first eleven months of the year, down roughly 1 million tons, or 5%, compared to the same period last year.
From January through October 2025, Azerbaijan exported 133,100 tons of crude oil and petroleum products to T
Azerbaijan's exports of oil and oil products to Thailand in January–October 2025 decreased significantly compared to last year, while the country's total exports decreased in monetary terms and showed a slight increase in volume.
French company KAPPA, a provider of digital solutions for the oil and gas industry, plans to expand the range of technologies offered to the Azerbaijani company Bahar Energy.
In January–October 2025, Azerbaijan supplied 281,100 tons of crude oil and petroleum products to France, totaling $143. 1 million. Compared to the same period last year, the export value grew by $86 million and the volume increased by 191,400 tons.
Germany ranked fourth among the countries to which Azerbaijan exported oil and petroleum products.
Azerbaijan exported 173,100 tons of petroleum coke worth $52.3 million in January–October.
Azerbaijan exported 20.8 million tons of crude oil and petroleum products worth $10.9 billion from January through October 2025. Compared to 2024, value fell $1.9 billion (15%) while volume rose 182,600 tons (0.9%).
Azerbaijan’s gas exports to Italy generated over $3 billion in revenue despite a slight drop in volume, reinforcing the country’s role as a key energy supplier to Europe.
Azerbaijan boosted oil exports to Bulgaria in January–March, shipping 130,800 tons worth $67.9 million—up nearly 65% in volume from a year earlier.
In the first quarter of 2026, Azerbaijan saw a decline in electricity production from thermal and hydropower plants. Thermal output dropped slightly, while hydropower saw a larger decrease. Overall, total electricity production was lower than the previous year.
Azerbaijan's renewable energy sector is experiencing significant growth, with wind and solar power production showing notable increases and contributing to the country’s broader sustainability and energy diversification goals.
Azerbaijan resumed oil shipments to France in March, reflecting ongoing energy trade ties despite an overall decline in exports during the first quarter of the year.
Azerbaijan’s petroleum bitumen exports experienced a modest increase in both volume and value, contributing to a positive trade balance.
Azerbaijan's trade performance in early 2026 reflects a decline in both export value and volume, despite maintaining a trade surplus due to a sharper drop in imports.
Azerbaijan's ACE platform in the Azeri-Chirag-Guneshli field has reached a significant production milestone, boosting oil output as part of the $6 billion development project.
Azerbaijan's crude oil and petroleum product exports, despite a slight decline in volume and value, continue to maintain strong demand, with Italy leading as the top importer and promising trade opportunities across diverse global markets.
Azerbaijan's natural gas production increased in the first quarter of 2026. Both total and marketable gas output saw modest year-on-year growth. The rise in production highlights steady progress compared to the same period in 2025.
Azerbaijan's water and thermal energy production decreased in the first quarter of 2026. Hydropower production saw a significant drop compared to the same period in 2025, while thermal power plants also experienced a decline.
Azerbaijan's electricity production saw a slight decline in the first quarter of 2026. Both total and commercial electricity outputs decreased compared to the same period in 2025. In addition, significant value was generated in the electricity and water supply sectors during this period.
Nakhchivan has strengthened its energy sector by improving infrastructure, boosting electricity generation, and enhancing supply reliability for consumers.
The forecasted steady increase in Europe's oil and liquid hydrocarbon production reflects both a stable supply outlook and the region's ongoing reliance on energy sources to meet growing demand through 2027.
Global oil production is set to fall 1.3 million barrels per day in 2026 but is projected to rebound in 2027, the EIA reports.
A new substation will be built in Azerbaijan's Absheron district, as reported by Trend. Azerishig OJSC has already started preparations for the project. The upcoming work will involve constructing a 35/6 kV substation to replace the existing distribution unit in Novkhani settlement.
Azerbaijan continues to expand its renewable energy share, supported by rising generation, growing wind output, and active electricity trade.
Azerbaijan’s oil exports to Romania fell in both value and volume in the first quarter, reflecting a broader global decline in the country’s petroleum shipments.
Azerbaijan's petroleum coke exports saw significant growth in both volume and value, while overall crude oil and petroleum product exports experienced a decline in value, reflecting shifting dynamics in global trade.
Petroleum coke production in Azerbaijan increased during the first quarter of the year, according to data published by the State Statistics Committee.
Azerbaijan produced 6.630 million tons of crude oil in the first quarter, marking a 3.4% decline compared to the same period last year, according to official statistics.
Gas transportation through the Baku-Tbilisi-Erzurum pipeline rose in the first quarter of the year, reflecting continued growth in Azerbaijan’s energy exports. The pipeline remains a key route for delivering natural gas from the Shah Deniz field to regional markets, including Georgia and Turkey.
The volume of oil transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline saw a decline in the first quarter of 2026. This reduction reflects a notable drop compared to the same period last year. Most of the oil transported was produced in Azerbaijan, with a smaller share coming from Turkmenistan and Kazakhstan.
Weekly overview of Azerbaijan’s oil and energy sector highlights key developments.
Oil production in OECD countries is expected to rise in the coming years, with quarterly variations throughout 2026. Non-OECD nations will also see an increase in output. Both regions are projected to maintain higher production levels into 2027.
Brent crude oil prices peaked in March and are expected to rise further in mid-2026 before gradually declining. The outlook is shaped by ongoing production disruptions and the uncertainty surrounding the Middle East conflict. Prices are projected to decrease over the following years.