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Azeri oil market: results of week

Politics Materials 24 October 2005 13:13
Azeri oil market: results of week

From 17 to 21 October URAL(EX-NOVO) average price, sold by Azerbaijan in Novorossiysk port, was $53.38 per barrel or dropped $1.70 barrel as compared the last week.

URAL(EX-NOVO) maximal price comprised $55.26 on 17 October, or $1.12 barrels down as compared to last week (12 October), minimal one - $51.44 on 21 October, or $2.5 down as compared to last week (21 October),

Brent average price (DTD) was $57.99 per barrel (dropped $0.41 per barrel), or $0.63 per barrel down as compared to last week. Brent maximal price comprised $59.46 on 17 October, or $0.53 per barrel down as compared to last week. Minimal price of Brent was $56.75 on 21 October, or $0.05 per barrel as compared to last week (10 October).

URAL (EX-NOVO) was cheaper than Brent by $4.61 per barrel last week, or $1.08 per barrel more than the average figure of last week.

The density of oil URAL is 32 degrees by API, sulphur content - 1.3%. The density of oil DTD is 38.3 degrees by API, sulphur content - 0.36%.

Azerbaijan supposes to sell 800,000 tons URAL oil from Novorossiysk port from November to December. A total of 640,000 tons falls to the Azerbaijan International Operator Company (AIOC), two consignments per 80,000 - to the State Oil Company of Azerbaijan (SOCAR). From January to September the SOCAR shipped 1,298m tons of URAL oil from Novorossiysk, or 689,000 tons less as compared 2004. The AIOC shipped 1,683 tons of URAL oil over this period.

The SOCAR will sell around 227,000 tons oil from Novorossiysk for Mercuria Energy Trading (142,000 tons) and Vitol (85,000 tons).

The State Oil Company of Azerbaijan (SOCAR) closed a tender on sale of profit oil Azeri Light from the Georgian port of Supsa. The shipment of 1 million barrels of Azeri Light oil (135,000 tons) from Supsa is scheduled for 18-19 November.

The previous consignment with the similar amount was sold to Turkish Tupras, while previously, the German company Select Energy GMBH acquired Azeri Light oil batch.

In January to September 2005 the AIOC, involved in the development of the Azeri-Chirag-Gunashli fields, exported 5,157 million tons of Azeri Light via the Baku-Supsa pipeline.

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