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PRICES FOR AZERBAIJANI OIL LOWERED

Oil&Gas Materials 30 June 2005 17:26 (UTC +04:00)

The prices for AZERI LT CIF, on June 29, were $55.72 per barrel (dropped $1,92 per barrel as compared to the previous price). The density of the Azeri Light is 34,9 degrees by API, the sulphur content is 0,14%.

The price of URAL (EX-NOVO) was $50.72 per barrel (- $1.97 per barrel). The density of URAL oil is 32 degrees by API, sulphur content вЂ" 1.3%.

The price for Brent (DTD) on June 28 was $55.53/barrel (- $2.04 per barrel). The density of the DTD oil is 38.3 degrees by API, sulphur content - 0.36%.

The AZERI LT CIF quotation reflects the price of the Azerbaijani oil with delivery to Mediterranean ports, shipped by the shareholders of the Azerbaijan International Operation Company (AIOC) at the Georgian terminal in Supsa. The URAL (EX-NOVO) quotation reflects the price of oil, shipped at the Russian terminal in Novorossiysk.

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