Azerbaijan, Baku, Dec. 4 / Trend E. Ismayilov /
According to forecasts, the State Oil Company of the Azerbaijan Republic (SOCAR) will reduce exports of Azerbaijani oil to Russia from the current 2.5 million tons to 1.9 million in 2010, an oil and gas market source said today.
Azerbaijan exported 1.3 million tons of oil to Russia via the Baku-Novorossiysk pipeline in 2008.
"Exports to Russia are expected to fall in 2010. According to forecasts, the figure will amount to 1.9 million tons in 2010," the source said.
The reduction of SOCAR oil exports is explained by the company increasing oil refining at its own plants in Azerbaijan with the opening of SOCAR filling stations. The company intends to open about 26 filling stations during the first stage.
SOCAR pumps oil extracted from its own fields, as well as oil from joint ventures and operating companies working on onshore fields in Azerbaijan through Novorossiysk.
The company exported 2.1 million tons of oil via the northern Baku-Novorossiysk pipeline in January-October 2009 compared to 1 million tons in January-October 2008.
At present, while transporting oil via Baku-Novorossiysk pipeline, Azerbaijan gets Urals oil at the Novorossiysk Port by mixing with other producers' oil.
The Azerbaijani International Operating Company was the operator of the Baku-Novorossiysk Pipeline until late 2007. These functions were then handed over to SOCAR.
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