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PRICES FOR AZERBAIJANI OIL CONTINUED LOWERING

Oil&Gas Materials 6 September 2005 15:15 (UTC +04:00)

The price of AZERI LT CIF on 5 September was $65,51/barrel (lowered for $1,82/barrel as compared to the previous price). The density of Azeri Light is 34,9 degrees by API, sulphur content - 0,14%.

The price of URAL (EX-NOVO) on 5 September was $58,02/barrel (dropped for $1,53/barrel. The density of URAL is 32 degrees by API, sulphur content - 1,3%.

The price for Brent (DTD) on 5 September was $64,31/barrel (lowered for $1,59/barrel). The density of DTD is 38,3 degrees by API, sulphur content - 0,36%.

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

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