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SOCAR increases oil export from Russian port

Business Materials 4 August 2015 17:03 (UTC +04:00)

Baku, Azerbaijan, Aug. 4
By Azad Hasanli - Trend:

The State Oil Company of Azerbaijan (SOCAR) exported 845,760 metric tons of oil via the Baku-Novorossiysk pipeline in Jan.- July 2015, or 42.6 percent more than in the same period of 2014, said the message posted on SOCAR's website.

The company exported 167,700 metric tons of oil from Novorossiysk in July, while 84,800 metric tons of oil was pumped in July 2014.

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

SOCAR transships 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 SOCAR.

SOCAR and Russian Transneft signed an agreement, according to which SOCAR will transport 1.7 million metric tons of oil produced by it independently onshore and offshore via the Baku-Novorossiysk pipeline in 2015.

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