Azerbaijan makes additional revenue from oil

In late July-early August the average price for the Azeri offshore oil of the AZERI LT sort shipped via the Turkish port Ceyhan and Georgian ports Batumi and Supsa made up $107.69/barrel at the consignee port (CIS), by $1.47/barrel less than the average rate of the mid July.

At the port of a consignor (FOB) the prices varied at the level of $106.74/barrel, by $1.12/barrel less than 2 week ago.

The maximum price for the AZERI LT last week made up $108.85/barrel, minimal - $104.59/barrel, the Marketing and Economic Operations Department of SOCAR reports.

Despite of a price fall for raw materials on the world stock exchange markets, the budget of Azerbaijan and the State Oil Foundation will make additional revenue for the first seven months. The state budget and budget of the State Oil Foundation are planned taking into account the forecast oil price at the level of $100/barrel. From the beginning of the year the world oil prices stay at the level higher than this forecast.