SOCAR increases oil export via Novorossiysk port by over 50%

Oil&Gas Materials 3 March 2015 11:29 (UTC +04:00)

Baku, Azerbaijan, March 3
By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan (SOCAR) exported 254,310 metric tons of oil via the Baku-Novorossiysk pipeline in January-February 2015 compared to 169,650 metric tons in the same period of 2014, SOCAR said March 3.

SOCAR exported 84,810 metric tons from Novorossiysk in February compared to 84,910 metric tons in February 2014.

SOCAR exported 932,160 metric tons of oil from Novorossiysk in 2014 compared to 1.75 million metric tons in 2013.

SOCAR transships the oil produced at its own fields, as well as the oil of joint ventures and operation companies operating at Azerbaijan's onshore fields through Novorossiysk. Oil is delivered to the port via the Baku-Novorossiysk pipeline operated by SOCAR.

However, SOCAR and Russian Transneft signed an agreement. SOCAR will transport 1.7 million metric tons of oil produced by SOCAR independently onshore and offshore via the Baku-Novorossiysk pipeline in 2015 in accordance with this agreement.


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