In the first six months of 2025, Block Energy, the Georgian oil exploration and production company, sold 49.9 million barrels of oil, according to its semi-annual report published on the London Stock Exchange.
The company reported USD 3.02 million in revenue, which means the average price per barrel of Georgian oil during this period was USD 60.5. While the volume of oil sold increased compared to the same period last year, the total revenue decreased due to falling global oil prices.
For comparison, in the first six months of 2024, 46.6 million barrels of oil were sold for USD 3.3 million, resulting in an average price of USD 71 per barrel.
Block Energy also reported a decline in gas sales, with 82.2 million cubic feet (2.7 million cubic meters) sold in January-June 2025, compared to 93.5 million cubic feet in the same period of 2024. Revenue from gas sales fell slightly to USD 0.36 million from USD 0.38 million last year.
