Georgia boosts exports of petroleum products nearly 11-fold in H1
Georgia boosted exports of petroleum products 10.7-fold year-on-year to $487 million in January-June 2026, according to the country's National Statistical Committee.
According to statistics, petroleum products were one of the main drivers of Georgian export growth in the first half of the year, ranking second among key export commodities after the re-export of passenger cars, shipments of wich fell 23% to $938 million. The share of petroleum products in total exports increased from 1.4% to 12.6%, while the share of re-exported cars decreased from 37.7% to 24.2%.
According to the statistical report, Georgia's exports of petroleum products to China totaled 105,500 tonnes worth $78 million, while those to Türkiye totaled 136,100 tonnes worth $69.1 million.
On the other hand, imports of petroleum products to the country increased 34.6% to $811.8 million in H1. Crude oil imports to Georgia totaled $202.2 million versus virtually no oil supplies in the first half of last year. According to statistics, Georgia imported all of its oil from Russia, with 481,900 tonnes in physical terms.
As reported, Georgia would begin domestic oil refining and export of petroleum products at the end of 2025, following the commissioning of the country's first refinery with capacity of 1.2 million tonnes, located in the port of Kulevi and owned by Black Sea Petroleum (BSP). According to the company, oil-refining volumes exceeded 650,000 tonnes in the first half of 2026.
BSP in early July announced said that it would completely cease importing Russian oil starting in August-September under threat of sanctions from the European Union, which had considered this move in February this year. The company previously reported plans to switch to crude from Turkmenistan and Kazakhstan.