Baku, Azerbaijan, April 1
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan (SOCAR) exported 254,330 tons via the northern Baku-Novorossiysk pipeline in Jan.-March 2014 compared to 411,340 tons in the same period of 2013, a message from SOCAR said on April 1.
The company exported some 84,680 tons of oil from Novorossiysk port in March compared to 159,580 tons in March 2013.
SOCAR exported around 1.75 million tons of oil via Baku-Novorossiysk pipeline in 2013 compared to 2.06 million tons in 2012.
SOCAR tranships oil produced from its own fields, as well as the oil of joint ventures and operator companies working at onshore fields in Azerbaijan through the Novorossiysk port. The oil is delivered to the port via the Baku-Novorossiysk pipeline. SOCAR is the operator of Baku-Novorossiysk pipeline.
Earlier the Russian side decided to terminate the intergovernmental agreement on the supply of oil via the Baku-Novorossiysk pipeline. Nevertheless, it was stated that there was opportunity for further negotiations with the Russian side on the work of this pipeline, in particular in the opposite direction.
However, SOCAR and Russian Transneft recently signed a new agreement on oil transportation via the Baku-Novorossiysk pipeline in accordance to which the oil transportation via the Baku-Novorossiysk pipeline was restored.
Translated by L.Z.
Edited by C.N.