Azerbaijan has resumed crude oil exports to India after a 10-month break, resolving the pricing issue that had led to the halt in supplies, according to people familiar with the matter. In August, Azerbaijan exported 1,747.07 tonnes of crude oil to India, valued at $781,520, according to its customs data, as cited by ET.Energy cooperation has been a key pillar of economic relations between the two countries. In 2024, India was the fourth-largest buyer of petroleum and petroleum products from Azerbaijan, importing 1.17 million tonnes worth about $729 million. In 2022 and 2023, India ranked third, with imports exceeding 2 million tonnes annually, valued at $1.6 billion and $1.2 billion, respectively.Besides being a major buyer of petroleum products, India is also a significant investor in Azerbaijan. ONGC Videsh Ltd (OVL) has invested over $1.2 billion in acquiring stakes in the Azeri-Chirag-Gunashli (ACG) oil and gas fields and the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, according to a brief by the Indian Embassy in Baku.In 2024, OVL completed the acquisition of an additional 0.615% participating interest in the ACG oil and gas field from Equinor for $60 million. The deal also included 0.737% shares of Equinor in the BTC pipeline. The buyout raised OVL’s stake to 2.925% in the ACG field and 3.097% in the BTC pipeline.