Increase in Azeri Oil Prices

Oil&Gas Materials 19 September 2007 20:07 (UTC +04:00)

Azerbaijan, Baku /corr Trend V.Sharifov / On 18 September the AZERI LT FOB Ceyhan oil price was $76.91 per barrel or $0.17 per barrel up in price.

The AZERI LT CIF Augusta price was $77.69 per barrel, or $0.19 per barrel also more than its previous price.

Azeri Light oil is produced from Azeri-Chirag-Gunashli offshore fields, which is developed under BP's operations. It is directly delivered to the Turkish port of Ceyhan via the Baku-Tbilisi-Ceyhan main export oil pipeline, and also to the Georgian port of Supsa via the Baku-Supsa pipeline and to the Georgian port of Batumi by railway. The density of Azeri Light is 34.8 degrees by API and its sulfur content is 0.15%.

The price of URAL (EX-NOVO) was $73.30 per barrel, same as its 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 sulfur content is up to 1.8%.

On 18 September the price of Brent Dated was $77.01 per barrel or $0.23 per barrel more in comparison to its previous price.

The density of DTD is 38.3 degrees API and it has a sulfur content of 0.36%.