In the first half of 2023, the cost of BTC Co (operator for the construction and operation of the Baku-Tbilisi-Ceyhan oil pipeline) for the BTC project increased by 32.8% – up to $77 million, compared to the same period in 2022. At the same time, operating expenses for the pipeline amounted to $59 million (an increase of 20.4%), capital – $18 million (an increase of 2 times),” BP’s quarterly report on Azerbaijani projects notes. According to BTC Co, since the commissioning the BTC oil pipeline on June 4, 2006 and by the end of the first half of 2023, 5,402 tankers have been shipped from the port of Ceyhan, i.e. over 546 million tons of oil and condensate (over 4.1 billion barrels) have been delivered to world markets through the BTC during this period. In the first half of 2023, 15 million tons of oil and condensate (approximately 114 million barrels) were transported through the BTC oil pipeline, 158 tankers were shipped from the port of Ceyhan. The project participants are: BP (30.1%); SOCAR (25%); MOL (8.9%); Equinor (8.71%); TPAO (6.53%); ENI (5%); ExxonMobil (2.5%), Itochu (3.4%); INPEX (2.5%), TotalEnergies (5%) and ONGC (2.36%). In 2022, net profit of ‘Azerenergy’ tripled Baku/04.08.2023/Turan: In 2022, the net profit of ‘Azerenergy’ OJSC (state monopoly on electricity production) amounted to 445.577 million manats ($262.1 million), by 3.1 times higher than in 2021. According to the published audited financial statements of ‘Azerenergy,’ in 2022, the company’s revenues amounted to 1 billion 851.679 million manats (an increase of 40.2%). ‘Azerenergy’s’ revenues from the sale of electricity amounted to 1 billion 840.564 million manats (an increase of 43.7%), from connection to the electricity grid – 6.987 million manats (a decline of 20.8%), other revenues – 4,128 million manats (a decline of 86.5%). The company’s operating profit in 2022 amounted to 451.68 million manats (an increase of 3.5 times). The accumulated losses of the company at the beginning of 2023 are estimated at 2 billion 164.739 million manats (a decline of 16.8%). The company’s liabilities in 2022 decreased by 11.6% to 2 billion 212.996 million manats. The company’s funds allocated for investment activities in 2022 increased by 15.8% to 572.394 million manats
Source: Turan News Agency