Manya Rathore
Research expert covering India
Energy sector in Azerbaijan - statistics & facts
A major oil and gas producer, Azerbaijan has the highest dependence on fuel exports within the Commonwealth of Independent States (CIS). In 2023, more than 91 percent of the nation's total merchandise export revenue came from the sale of petroleum products. The largest national company in the sector is the State Oil Company of the Republic of Azerbaijan (SOCAR), which accounts for roughly a quarter of the country’s oil production.
