Azerbaijani oil prices fall on Feb. 24

Oil&Gas Materials 25 February 2009 12:40 (UTC +04:00)

Azerbaijan, Baku, Feb. 25 / Trend , A. Badalova/ On Feb. 24, the price of AZERI LT CIF Augusta was $41.7per barrel, or $1.03per barrel less compared to the previous day's price, according to the State Oil Company of Azerbaijan (SOCAR), which has produced Light Oil since 1997.

Azeri Light oil is produced from the 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.

AZERI LT FOB Ceyhan oil price was $40.86per barrel, or $0,9per barrel less than the previous day's price. 

Azerbaijan exports URALS 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 price of URAL (EX-NOVO) was $39.52per barrel, or $0,33per barrel more than the previous price.

The price on Brent Dated, produced from the North Sea, was $40.33per barrel, $0.91per barrel less compared to the previous price.