Crude oil exports down in June 2016
SOCAR’s crude oil exports, comprising crude belonging to the company and the Azerbaijani state, which accounted for 67.6% of total crude oil exports in 2015, were down 26.0% y/y in June 2016 to 1.7mn tons and down 10.2% y/y in 1H16.
Average monthly crude oil price for BTC FOB Ceyhan was up 2.7% m/m in June 2016, reaching US$ 49.4/bbl, an 8-month high. In annual terms, however, BTC FOB Ceyhan price was down 21.2% in June 2016.
Loans and household deposits down in May 2016
Total loan portfolio, excluding non-bank entities, was down 3.1% m/m to AZN 17.6bn in May 2016, the lowest level for the last 18 months. Household deposits, which accounted for 34.1% of total deposits in April 2016, were down 1.5% m/m to AZN 7.6bn in May 2016, the lowest level for the last 6 months.
