Azerbaijan exported 15.83 million tonnes of crude oil worth $10.10 billion in January-September 2026. Export volume fell 6.86% year on year, while its value rose by about 13%.
Italy remained the largest buyer, receiving 8.88 million tonnes worth $5.51 billion. FinFly calculations put its share at 56.1% of export volume and 54.5% of export value. The figures are from the State Customs Committee, as published by Report.
The ten largest buyers
Czechia ranked second by value at $908.5 million, followed by Romania at $644.3 million. The table ranks destinations by export value. The volume ranking differs: Germany received more oil than India, but India's purchases had a higher value.
| Country | Volume, thousand tonnes | Value, $ million |
|---|---|---|
| Italy | 8 881,44 | 5 511,08 |
| Czechia | 1 326,51 | 908,48 |
| Romania | 1 014,01 | 644,32 |
| India | 524,34 | 399,21 |
| Germany | 627,44 | 395,75 |
| Tunisia | 429,38 | 266,29 |
| Bulgaria | 358,84 | 253,11 |
| Indonesia | 356,50 | 224,64 |
| Portugal | 395,03 | 221,96 |
| Switzerland | 272,50 | 193,60 |
January-September 2026. Customs export values; figures rounded. Other destinations accounted for 1.64 million tonnes worth $1.09 billion.
Lower volume, higher value
Exports to Italy fell 7.38% by volume but rose 10.38% in value. Deliveries to Czechia increased 1.42% in volume and 29.53% in value. Romania recorded increases of 30.23% and 50.07%, respectively.
The average statistical export value reached approximately $638 per tonne. This is calculated from aggregate nine-month export value and volume. It is neither an Azeri Light market quotation nor the price of an individual contract.
What the figures mean
Higher export value offset the decline in physical volumes. Italy remains the dominant destination, accounting for more than half of both volume and value. Changes in demand in that market therefore carry particular weight in the overall export picture.
Customs export value is not the same as oil-company profit or government revenue. The table alone cannot isolate the effects of prices, contract terms and the composition of shipments.