SOCAR significantly ups oil exports from Novorossiysk

Oil&Gas Materials 4 September 2012 16:19 (UTC +04:00)

Azerbaijan, Baku, Sept 4 /Trend E.Ismayilov/

The State Oil Company of Azerbaijan (SOCAR) exported over 1.27 tons of oil through the northern Baku-Novorossiysk pipeline in January-August 2012 compared to over 1.25 tons in January-August 2011, SOCAR said on Tuesday.

According to the report, 129,64 tons of oil was exported from Novorossiysk in August 2012 compared to about 79,6 tons in August 2011.

The company exported 1.99 million tons of oil via the northern Baku-Novorossiysk pipeline in 2011 compared to 2.24 million tons in 2010.

In 2009 SOCAR exported 2.5 million tons of oil compared to 1.2 million tons in 2008. SOCAR exported 1.2 million tons of oil in 2007, which is the same as in 2006 and exports through the Baku - Novorossiysk pipeline amounted to 1.6 million tons in 2005.

SOCAR tranships oil from its own fields and from joint ventures and companies operating in Azerbaijan, through Novorossiysk.

Azerbaijan International Operating Company (AIOC) became the operator of the Baku-Novorossiysk pipeline in late 2007. It then transferred these functions to SOCAR.