BTC Co reduces operating expenses on BTC pipeline by 6% in 1Q26

BTC Co's operating expenses for the Baku–Tbilisi–Ceyhan (BTC) oil pipeline in the first quarter of 2026 amounted to $30 million, while capital expenditures were approximately $28 million, Report informs referring to BP-Azerbaijan.

Compared to January-March 2025, operating expenses on the BTC pipeline decreased by 6.2%, while capital expenditures increased by 2.2 times.

From the pipeline's commissioning in June 2006 until the end of March of this year, approximately 626 million tons (approximately 4.7 billion barrels) of oil have been transported via this pipeline, loaded onto 6,210 tankers in Ceyhan and shipped to global markets.

From January to March 2026, the BTC pipeline transported approximately 6 million tonnes (approximately 49 million barrels) of oil and condensate, which were loaded onto 65 tankers at the Ceyhan terminal for onward export.

The BTC pipeline primarily transports oil from the Azeri–Chirag–Gunashli (ACG) field block and condensate from Shah Deniz, as well as crude oil produced by SOCAR in Azerbaijan and oil from Kazakhstan and Turkmenistan.

BTC Co. shareholders are: BP (30.1%), SOCAR (32.97%), MOL (8.90%), TPAO (6.53%), Eni (5%), TotalEnergies (5%), Itochu (3.40%), Inpex (2.5%), ExxonMobil (2.5%) and ONGC (BTC) Limited (3.1%).