Baku, Azerbaijan, August 1
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan (SOCAR) exported 593,000 tons of oil via the northern Baku-Novorossiysk pipeline in January-July 2014, compared to almost 995,000 tons in the same period of 2013, a message from SOCAR said.
The company exported 84,800 tons of oil from Novorossiysk port in July, versus 169,670 tons in the same month of 2013.
SOCAR exported 1.75 million tons of oil via Baku-Novorossiysk pipeline in 2013, compared to 2.06 million tons in 2012.
SOCAR transships the oil produced from its own fields, as well as the oil of joint ventures and operator companies working at onshore fields in Azerbaijan through the Novorossiysk port. The oil is delivered to the port via the Baku-Novorossiysk pipeline. SOCAR is the operator of Baku-Novorossiysk pipeline.
Earlier, the Russian side decided to terminate the intergovernmental agreement on the supply of oil via the Baku-Novorossiysk pipeline. Nevertheless, it was stated that there was opportunity for further negotiations with the Russian side on the operation of this pipeline, in particular in the opposite direction.
However, SOCAR and Russian Transneft recently signed a new agreement on oil transportation via the Baku-Novorossiysk pipeline, in accordance to which, the oil transportation via the Baku-Novorossiysk pipeline was restored.
Edited by CN