Increase in Azeri Oil Prices
Azerbaijan, Baku /corr Trend V.Sharifov / On 18 May AZERI LT FOB Ceyhan oil price was $69.06 per barrel, or $0.23 per barrel more compared to previous price.
AZERI LT CIF Augusta price was $70.43 per barrel, or $0.19 per barrel up compared to the previous price.
Azeri Light oil is produced from Azeri-Chirag-Gunashli offshore fields, which are developed under BP's operations. It is directly delivered to the Turkish port of Ceyhan via the Baku-Tbilisi-Ceyhan main export oil pipeline, to the Georgian port of Supsa via the Baku-Supsa pipeline and to the Georgian port of Batumi by rail. The density of Azeri Light is 34.8 degrees by API and its sulphur content is 0.15%.
The price of URAL (EX-NOVO) was $65.12 per barrel, or $0.02 per barrel more than the previous price.
Azerbaijan exports URAL oil from the Novorossiysk port, which is delivered via the Baku-Novorossiysk pipeline. The high quality Azerbaijani oil, including Azeri Light, is blended with other oil brands in the Russian pipeline system and is sold from the Novorossiysk Port as URAL. The density of URAL is 30.4-31.85 degrees by API and its sulphur content is up to 1.8%.
On 18 May the price of Brent Dated was $69.25 per barrel or $0.04 per barrel less compared to the previous price.
Density of DTD is 38.3 degrees API and has a sulphur content of 0.36%.