SOCAR significantly reduces oil export from Novorossiysk port in Jan.-April
Baku, Azerbaijan, May 3
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan (SOCAR) exported 338,810 tons via the northern Baku-Novorossiysk pipeline in January-April 2014 compared to 570,500 tons in the same period of 2013, SOCAR said on May 2.
The company exported some 84,480 tons of oil from Novorossiysk port in April compared to 159,160 tons in April of 2013.
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 pipeline.
Nevertheless, it was stated that there was an 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 pipeline in accordance to which the oil transportation via the Baku-Novorossiysk pipeline was restored.
Translated by NH
Edited by S.I.