Azerbaijani oil prices down on May 16
Azerbaijan, Baku, May 17 / Trend E.Ismayilov/
On May 16, the price of AZERI LT CIF Augusta was $114.34 per barrel, or $0.3 per barrel less, compared to the previous 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 $113.38 per barrel, or $0.35 per 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 price of URALS (EX-NOVO) was $109.21 per barrel, or $0.1 per barrel less than the previous price.
The price of Brent Dated, produced from the North Sea, was $111.07 per barrel, $0.13 per barrel less than the previous price.