Schedule of oil shipment from Novorossiysk port for July

Baku, Azerbaijan, July 18

By Emil Ismayilov - Trend:

The State Oil Company of Azerbaijan (SOCAR) is expected to ship a total of 85,000 tonnes of oil from the Russian port of Novorossiysk in July 2014. The oil from Novorossiysk will be shipped in one batch from July 30 to July 31.

Including SOCAR's shipment, a total of around 2.58 million tonnes of oil will be shipped from this port in July.

SOCAR transships the 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 exported around 1.75 million tonnes of oil via Baku-Novorossiysk pipeline in 2013, compared to 2.06 million tonnes in 2012.

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 operation of this pipeline, in particular in the opposite direction.

The oil pumping through the pipeline was suspended in February. 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.

SOCAR has been operating Baku-Novorossiysk pipeline since 2008. The company took over the operatorship from Azerbaijan International Operating Company (AIOC - headed by BP).

The schedule of oil shipment from the Novorossiysk port for July has been provided by the Energy Intelligence Group agency.

Edited by CN