SOCAR increases oil export from Novorossiysk by 60%

Oil&Gas Materials 2 June 2015 17:11 (UTC +04:00)

Baku, Azerbaijan, June 2
By Maksim Tsurkov - Trend:

SOCAR (the State Oil Company of Azerbaijan) exported 678,050 metric tons of oil via the Baku-Novorossiysk pipeline in January-May 2015, which is 60.1 percent more than in the same period of 2014 (423,640 metric tons), SOCAR said.

SOCAR exported 169,560 metric tons of oil from Novorossiysk in May compared to 84,830 metric tons in the same month of 2014.

SOCAR exported 932,160 metric tons of oil via the Baku-Novorossiysk pipeline in 2014, compared to 1.75 million metric tons in 2013.

The oil produced at Socar's own fields is transshipped, 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.

SOCAR and Russian Transneft have already signed an agreement, according to which SOCAR will transport 1.7 million metric tons of oil produced by it independently onshore and offshore via the Baku-Novorossiysk pipeline in 2015.

Edited by CN


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