Italy remains Azerbaijan’s top oil buyer despite revenue dip

In January 2026, Azerbaijan exported approximately 1.85 million tons of crude oil to Italy, generating $861.65 million in revenue, Azerbaijan's State Customs Committee confirmed.

The volume of crude oil shipments to Italy increased by 9.5% compared to January 2025, while the total value of exports declined by 7.6%. Crude oil destined for Italy accounted for 69.91% of Azerbaijan’s total oil exports for the month, Caliber.Az reports via local media.

For comparison, in January 2025, Azerbaijan exported more than 2.64 million tons of crude oil and oil products derived from bituminous rocks, valued at nearly $1.24 billion, according to customs declarations.

In January 2026, Azerbaijan’s total trade turnover with international partners amounted to almost $3.54 billion, reflecting continued engagement in global markets.

The data underscores Italy’s role as the principal importer of Azerbaijani crude and highlights fluctuations in both volume and revenue over the past year.

By Vafa Guliyeva