Baku-Novorossiysk to cut oil transportation in 2010
Azerbaijan, Baku, Jan. 8 / Trend /
The State Oil Company of Azerbaijan Republic (SOCAR) will transport 1.8 million tons of oil via the Baku-Novorossiysk pipeline in 2010, a source in the oil and gas market said today. In 2009, the company transported about 2.5 million tons of the Azerbaijani oil via this pipeline compared to 1.3 million tons in 2008.
The company will decline exports in Russia's direction due to plans to increase oil refining in the country. Based on the forecasts, in 2010 the volume of oil refining in Azerbaijan will be 6.6 million tons.
SOCAR will pump 450,000 tons of oil per quarter, the source added.
In January, the Baku-Novorossiysk will transport 130,000 tons of oil. In February and March , the northern pipeline will be pumped 160,000 tons of the Azerbaijani oil, the source said.
SOCAR transships its own oil, as well as oil of joint ventures and operating companies operating in Azerbaijan's onshore fields, through Novorossiysk.
Until late 2007, AIOC was the operator of Baku-Novorossiysk. The structure then transferred these functions to SOCAR.