SOCAR increased oil export from Novorossiysk by 60%
Edited by Rhod Mackenzie / 2015-06-02 11:10:54
Azerbaijan Oil and Gas Russia Azerbaijan Oil and Gas Baku-Makhachkala-Novorossiysk Russia Oil and Gas Oil SOCAR Transneft
SOCAR in Jan-May 2015 shipped 678.046 thousand tons of oil exported by the Baku-Novorossiysk oil pipeline from the port of Novorossiysk. This is by 60% more than in Jan-May 2014.
In May 2015 SOCAR shipped 169.559 thousand tons of oil from the port of Novorossiysk.
According to SOCAR, in May Brent oil was sold in the world market on average at $64.32/barrel, Urals- $64.32/barrel, BTC FOB Ceyhan - $65.16/barrel.
SOCAR and Transneft extended the agreement on Azeri oil pumping by the Baku- Novorossiysk pipeline until the end of 2015.
In 2014 SOCAR shipped 932.155 thousand tons of oil from the port of Novorossiysk.
From 1997 Azerbaijan has been transporting its oil by the Baku- Novorossiysk pipeline.
