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Decrease in Azeri High Gravity Oil Prices

Oil&Gas Materials 22 October 2007 20:34

Azerbaijan, Baku /corr Trend V. Sharifov / On 19 October, the price of AZERI LT CIF Augusta was - $84.84 PB, a decrease of $0.29 PB compared to the previous price, according to the State Oil Company of Azerbaijan Republic (SOCAR).

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, 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 sulphur content is 0.15%.

AZERI LT FOB Ceyhan oil price was $82.36 PB, a decrease of $1.38 PB compared to 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%.

The price of URAL (EX-NOVO) was $79.50 PB which is a decrease of $0.49 compared to the previous price.

On 17 October the price of Brent Dated was $84.33 PB, up $0.76 PB compared to the previous price.

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