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SOCAR increases oil export through Russian hub

Economy Materials 1 December 2015 18:57

Baku, Azerbaijan, Dec.1

By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan (SOCAR) has exported 1.27 million tons of oil via the Baku-Novorossiysk pipeline from Jan.-Nov. 2015 versus 932,160 tons of oil in the same period in 2014, the company's website said.

SOCAR transported 169,660 tons of oil in November 2015.

The company exported 932,160 tons of oil via the Baku-Novorossiysk pipeline in 2014, compared to 1.75 million tons in 2013.

SOCAR exports the oil produced at its own fields, as well as the oil of joint ventures and operation companies operating at Azerbaijan's onshore fields through Novorossiysk. Oil is delivered to the port via the Baku-Novorossiysk pipeline operated by the company.

The State Oil Company is expected to transport 1.4 million tons of oil produced by the company at onshore and offshore fields of Azerbaijan as of 2015.

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Follow the author on Twitter: @MaksimTsurkov

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