SOCAR to up oil pumping via Baku-Novorossiysk pipeline by 30 percent

Oil&Gas Materials 19 March 2010 17:26 (UTC +04:00)

Azerbaijan, Baku, March 19 / Trend E.Ismayilov /

The State Oil Company of Azerbaijan Republic (SOCAR) will pump 600,000 tons of Azerbaijani oil through the Baku-Novorossiysk pipeline in the second quarter of 2010, compared to 450,000 tons in the first quarter, a source in the oil and gas market said.

"The company will transport only 600,000 tons of oil through the Baku-Novorossiysk pipeline in the second quarter of 2010," the source said.

The source said based on the forecasts, in April, the pipeline will be pumped 215,000 tons of oil, this figure will be the same in May and in June - 170,000 tons.

Of the 450,000 tons, which pumped in the first quarter, 130,00o fell to January, February - 160,000 tons and the pipeline will also be pumped 160,000 tons in March.

At present, the Baku-Novorossiysk pipeline is pumped 6,500 tons of Azerbaijani oil per day. The oil pumping of the volume provided for this month will be stopped March 24.

Based on the forecasts, in 2010, Azerbaijan will pump 1.8 million tons of oil via the Baku-Novorossiysk pipeline compared to 2.5 million tons in 2009. 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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