SOCAR increases oil export through Novorossiysk by a third

Oil&Gas Materials 1 July 2015 20:28 (UTC +04:00)

Baku, Azerbaijan, July 1
By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan (SOCAR) exported 678,050 metric tons of oil via the Baku-Novorossiysk pipeline in Jan.-June 2015, or 33.4 percent more than in the same period of 2014 (508,220 metric tons), said the message posted on SOCAR's website.

The company didn't export oil from Novorossiysk in June, while 84,580 metric tons of oil was pumped in June 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.

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.

SOCAR and Russian Transneft 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.

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