SOCAR Becomes Operator of Azerbaijani Section of Baku-Novorossiysk Pipeline

SOCAR Becomes Operator of Azerbaijani Section of Baku-Novorossiysk Pipeline

Azerbaijan, Baku, 6 February / corr Trend S.Aliyev, V.Sharifov / The State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan International Operating Company (AIOC) signed an agreement on transference of the operational duties of the Azerbaijani part of Baku-Novorossiysk Pipeline. According to the agreement, the new operator of the pipeline will be SOCAR, a source stated at SOCAR on 6 February.

"The cooperation [with AIOC] on transferring the equipment of [the Azerbaijani part of the pipeline] has been competed," the same source stated.

Annually, SOCAR pumps 2-2.5mln tons of Azerbaijani oil produced in on- and offshore fields through its own funds, as well as the oil produced in the onshore fields by the joint ventures and companies operating with foreign capital, via the Baku-Novorossiysk pipeline at the price of $15.67 per ton. AIOC transports high-gravity oil which is produced in the Azeri-Chirag-Gunashli field also via the Baku-Novorossiysk, as large consignments of its oil are pumped via the Baku-Tbilisi-Ceyhan (BTC) pipeline.

Currently the SOCAR does not transport oil via Baku-Novorossiysk due to the issue that the Russian pipeline monopolist Transneft offered to annul the existing transportation agreement with Azerbaijan on oil pumping via the Baku-Novorossiysk pipeline in order to revise the conditions of the agreement.

The transportation agreement between Transneft and the AIOC, which produces light oil from the Azeri-Chirag-Guneshli fields and operates the Baku-Novorossiysk pipeline, was concluded in 1997. The issue of re-signing the agreement was raised by Transneft when in 2007 AIOC, guiding the terms of the agreement, informed Transneft of its rights and obligations in the agreement to SOCAR.

SOCAR, which owns the Baku-Novorossiysk pipeline, said that the AIOC and SOCAR do not see any necessity for a re-signing of the existing transportation agreement with Transneft. SOCAR is prepared to pump oil via the Baku-Novorossiysk route based on the agreement reached with the Russian company, which allows for the consideration of Transneft's proposals to instigate some changes to the document.

Due to the complicated situation with Transneft, SOCAR is obliged to begin export of oil by rail to Batumi from the Dubendi terminal (which is located in 47km in the north).

"Currently technical preparation is continuing for the oil transportation by rail to Batumi. We plan to send a tanker with an 80,000 ton capacity from the Georgian port," a source stated at SOCAR.

Last time the SOCAR exported oil from Dubendi was in 1999. The SOCAR uses the platform, managed by Dubai Middle East Petrol, to load oil onto the railway cisterns in the terminal.

Volume of credit investments in Azerbaijan's economy declines
Volume of credit investments in Azerbaijan's economy declines
WB predicts fall in gold prices in 2021
WB predicts fall in gold prices in 2021
Carbamide production in Azerbaijan to grow, WB forecasts
Carbamide production in Azerbaijan to grow, WB forecasts
Loading Bars
Latest
Volume of credit investments in Azerbaijan's economy declines
Iran’s Bahar Azadi gold coin price rebounds
WB predicts fall in gold prices in 2021
Kazakhstan to establish new mobile operator
Exports markets demonstrate growing demand for Georgian medications
Kazakhstan talks ongoing work to open CLAAS agricultural vehicles' assembly plant
Turkmenistan's Turkmenbashi refinery to launch production of Jet A-1 aviation fuel
Uzbekistan, Latvia consider prospects for co-op in ICT
Azerbaijan shows footage from Bash Garvand village of Aghdam district (VIDEO)
Postal operators of Azerbaijan, Turkey launch money transfer service at favorable tariffs
India’s crosses a Landmark with Cumulative Vaccination Coverage more than 13 Crores
SOCAR Ukraine bidding for Odessa Port Plant’s tender
London Bridge station reopens after suspicious item investigated
Uzbek-Korean JSC announces tender for transport services
PM Modi to address virtual Leaders' Summit on Climate tomorrow
Turkmenistan's Turkmengeology opens tender for purchase of equipment
Delayed tourism recovery affects Georgian economic growth forecast
India gets elected to three UN ECOSOC bodies
Turkmenistan's Turkmengas opens tender for purchase of chemical products
UK extends G7 Foreign Ministers' meeting invite to India
Kazakhstan’s national postal service operator to buy spares via tender
Georgia prepares for UN Food Systems Summit 2021
Azerbaijan shares data on number of vaccinated citizens for Apr. 21
Azerbaijan confirms 2,075 more COVID-19 cases, 2,480 recoveries
Iran Khodro declares amount of money to be saved
IRICA discloses details of Iran’s trade turnover with neighboring countries
Turkey reveals volume of goods received at Bandirma port in 2M2021
Georgian commercial banks see increase in profits
Industrial parks will also operate in Karabakh zone - President Aliyev
COVID-19 stalls launch of direct flights between Kazakhstan, US - ambassador
European countries to resume J&J COVID vaccine deliveries
Azerbaijan discloses volume of vehicles assembled at Ganja Automobile Plant
Dutch Stone City Energy to build TPP in Uzbekistan’s Surkhandarya region
WB names amount of allocations to countries against COVID-19
Carbamide production in Azerbaijan to grow, WB forecasts
Baku Stock Exchange holds auction on placement of CBA short-term notes
Turkmenistan's gas compressor plant contributes gas supply to oil wells
Eurasian Development Bank to support hospitals construction in Kazakhstan
Number of Kazakh companies increases in Turkey
Turkey unveils volume of cargo shipment through Kocaeli port
Onion exports from Georgia up, while imports decrease
Azerbaijan's Ganja Automobile Plant looks to enter markets of EAEU, neighboring countries
TCO talks release of excess amount pollutants at Kazakhstan’s Tengiz field
Azerbaijan eyes to introduce biometric e-signature system
Verizon loses more-than-expected wireless subscribers
Pace of Turkmen industry dev’t accelerating
Volume of Azerbaijan's 1Q2021 oil export to Spain disclosed
Austria increases import of Turkish-made chemicals
Silk Way West Airlines named ‘Cargo Airline of the Year 2020’
Turkey's 1Q2021 furniture export to Austria shows increase
Turkey's furniture export to Iran up
WB says global coal prices to jump in 2021
Cost of electricity imports to Georgia increase
Iran's Jam Petrochemical Complex sees increase in sales
Ukrainian Bees Airline plans to carry out Kyiv - Tbilisi - Kyiv flights
Azerbaijani state budget receipts through State Customs Committee exceed forecasts
Israel and UK consider green travel corridor
Chanel loses European court fight in trademark dispute with Huawei
Azerbaijan records decrease in lending to communications, transport sector
US committed to help diversify economic opportunities for people of Kazakhstan
101-year-old Malaysian INA veteran honoured
Roaming tariffs to be decreased within Eastern Partnership over next 5 years – deputy minister
Kazakhstan increases exports to UK
Iran receives part of its frozen funds from S.Korea to purchase COVID-19 vaccine
Kazakh-German oil extracting JV opens tender to buy batteries
Russia played major role in stopping armed conflict in Karabakh region - Putin
Turkey reveals cargo shipment volumes via its Tekirdag port
Value of Turkish furniture imports by France increases
Turkmenistan's import of Turkish electrical goods soars
BP announces West Azeri planned maintenance program
Passenger cars manufacturing surges in volume in Kazakhstan
Iran to commission over 100 industrial enterprises in Qom Province
Turkmenistan's Turkmennebit reveals data on production, supply of gas
Uzbekneftegaz reveals prices of petrol supplied for exchange trading for Apr. 12-16
PAYSIS names conditions for effectiveness of marketplaces in Azerbaijan
Uzbekistan, Latvia expanding trade and economic co-op
Number of mortgage loans issued by Uzbek commercial banks increased
Second container train from China reaches Baku
Carbon capture capacities to see 250% increase by 2030
Austria's 1Q2021 import of Turkish cars up in value
Instagram launches feature to tackle hate speech, abuse
Armenian fascism - ugliest, most brutal of all that existed in other countries - Azerbaijani president
Emirates may need to raise cash if air travel does not pick up
We are implementing Zangazur corridor, whether Armenia wants it or not - President Aliyev
Iran reveals COVID-19 data for April 21
Azerbaijan's state budget revenues from State Tax Service exceed forecast
Turkey unveils 2M2021 volume of cargo received by Istanbul port
Uzbekneftegaz to buy synthetic zeolite via tender
German companies' 1Q2021 total capital in Turkey grows
Azerbaijan's 1Q2021 state budget spending mostly account for current costs
Production of certain goods in Iran increases
In near future, construction of new airport will be launched in Zangilan district - Azerbaijani president
I hope that draft version of master plan of city of Aghdam will be submitted by end of May - President Aliyev
Our plans are to take Armenia to international courts - President Aliyev
In general, there are plans to create about 50 agricultural estates - President of Azerbaijan
We are seeing results of work carried out in Hajigabul district - Azerbaijani president
Main goal of creating large agricultural estates - to ensure food security, says Azerbaijani president
Azerbaijani people will return to Zangazur, which was taken away from us 101 years ago - President Aliyev
Iran's economic cooperation with Pakistan to grow
Supply of electricity to liberated territories will be completed by end of this year - President Aliyev
All news