March schedule for Azerbaijani oil transportation from Novorossiysk port

Baku, Azerbaijan, March 3

By Emil Ismayilov - Trend:

In March 2014, the State Oil Company of Azerbaijan (SOCAR) will load a total volume of 85,000 tons of oil from the Russian port of Novorossiysk. Oil from Novorossiysk will be shipped in one batch.

In total, around 3.08 million tons of oil will be shipped from Novorossiysk in March.

SOCAR is shipping oil from its own fields, as well as oil from joint ventures and operating companies working in the onshore fields of Azerbaijan through Novorossiysk. The oil is delivered to the port via the Baku-Novorossiysk pipeline.

SOCAR has been an operator of the Baku-Novorossiysk pipeline since 2008. It obtained this function from the Azerbaijan International Operating Company (led by BP).

The State Oil Company of Azerbaijan (SOCAR) exported 1.75 million tons of oil through the northern Baku-Novorossiysk pipeline in 2013 compared to 2.06 million tons in 2012.

Earlier, the Russian side decided to terminate the intergovernmental agreement on the oil supply via the Baku-Novorossiysk pipeline. Nevertheless, there is an opportunity for further negotiations on the pipeline, particularly in the reverse direction, with the Russian side.

Pumping of Azerbaijani oil via Baku-Novorossiysk pipeline has been ceased since February.

However, SOCAR and Russian Transneft have recently signed a new agreement on oil transportation via the Baku-Novorossiysk pipeline.

The following schedule of oil transportation from the port of Novorossiysk in March was delivered to Trend by Energy Intelligence Group agency.

Translated by NH

Edited by CN