Armenian Oil Industry

The Armenian oil industry is relatively small, as Armenia has limited domestic oil resources. The country primarily focuses on refining and importing oil rather than extensive extraction. Key players include older Soviet-era refineries, which face modernization challenges. Armenia also explores partnerships with neighboring countries and international companies to enhance its energy independence. Additionally, the government is interested in developing renewable energy sources to diversify energy production. Overall, while oil plays a role in Armenia's economy, it is not a major driver compared to other sectors like mining and agriculture.