Azerbaijan revises forecast on oil transportation via Baku-Novorossiysk
Azerbaijan, Baku, Jan. 26 / Trend S.Aliyev /
The Azerbaijani government revised its forecasts on the volumes of oil transportation via the northern Baku - Novorossiysk pipeline route. Earlier, it is expected to pump 1.8 million tons via this pipeline in 2010 and currently the figure is 2.4 million tons, a source in the oil and gas industry.
The reasons for the changes in forecasts are not specified. Decline in oil transportation was due to an increase in oil refining in the local refineries of the State Oil Company of Azerbaijan Republic (SOCAR).
In 2009, Azerbaijan pumped 2.5 million tons of oil via the Baku-Novorossiysk pipeline compared. In 2008 the figure was 1.2 million tons.
SOCAR transships its own oil, as well as oil of joint ventures and operating companies operating in Azerbaijan's onshore fields, through Novorossiysk.
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 URALS.
Until late 2007, AIOC was the operator of Baku-Novorossiysk. The structure then transferred these functions to SOCAR.
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