Georgia expands global reach with oil shipments to 12 countries

In the first two months of 2026, Georgia exported 219,086 tons of oil and oil products valued at $93.2 million to 12 countries, the National Statistics Office said, NewsGeorgia reports.

Despite lacking large-scale domestic oil production, 94.4% of these exports were locally produced. The surge coincides with the launch of the oil refinery in the Black Sea town of Kulevi at the end of 2025.

Georgian oil product exports rose at an unprecedented rate in January–February, climbing 2,175% to $88 million. This growth secured oil products the second-largest share of national exports (13.3%), following ores and concentrates of precious metals, which totaled $125.6 million, or 19% of total exports. For context, November 2025 exports stood at $30.1 million and December 2025 at $31.9 million.

An unexpected entrant among top buyers was the West African country Togo, which accounted for roughly one-fifth of exports—$19 million, or 32,099 tons—despite no prior trade links with Georgia.

Other significant destinations for Georgian oil products included:

• Türkiye – $24.3 million, 63,530 tons
  
  

• Malta – $16.5 million, 31,226 tons
  
  

• Singapore – $11.8 million, 37,932 tons
  
  

• UAE – $11.8 million, 34,816 tons
  
  

• Cyprus – $3.5 million, 13,164 tons
  
  

• Uzbekistan – $338,000, 181 tons
  
  

• Armenia – $228,000, 281 tons
  
  

• Ukraine – $210,000, 119 tons
  
  

• Kazakhstan – $48,000, 19 tons
  
  

• Azerbaijan – $35,000, 21 tons
  
  

• China – $29,000, 2 tons
  
  

The Kulevi refinery was developed with support from the Georgian Development Fund and Cartu Bank, owned by Bidzina Ivanishvili, founder of the ruling Georgian Dream party. Its first phase processes up to 1.2 million tons of crude oil annually, with plans to expand capacity to 4 million tons. The project’s total budget is estimated at $600 million.

In late 2025, the EU considered including the Kulevi refinery in its 20th sanctions package due to its role in maritime shipments of Russian oil. However, it was ultimately excluded after Georgian authorities pledged to block “shadow fleet” tankers.

By Vafa Guliyeva