Oil revenues in Azerbaijan (and what they should mean…)
March 26, 2011
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The price of oil has surpassed $115 per barrel. An export of 1 million barrels per day means a daily income of $115 million. Calculations show that output and transportation costs are up to $10 per barrel, meaning that from every $115 earned from a barrel of oil, $10 are attributed to costs; 80% of the remaining $105 – that is $84 – go to the Azerbaijani government, and 20% – that is $21 – go to Azerbaijani companies. So $84 million every day, $2.5 billion every month, $30 billion every year are made on oil sales. That is $9.60 per day (8 AZN), 240-250 AZN per month, or 3000 AZN per year per person.
Research: Gubad İbadoglu