Azerbaijan sees increase in its oil prices
Baku, Azerbaijan, Oct.19
By Maksim Tsurkov - Trend:
The price of AZERI LT CIF Augusta stood at $51.65 per barrel on Oct.16, or $0.94 per barrel more compared to the price on Oct.15, a source in the oil and gas market told Trend Oct.19.
The State Oil Company of Azerbaijan (SOCAR) has been producing light oil in Azerbaijan since 1997 jointly with foreign partners.
Azeri Light oil is produced from the Azeri-Chirag-Gunashli offshore fields. It is directly delivered to the Turkish port of Ceyhan via the Baku-Tbilisi-Ceyhan main export oil pipeline, and to the Georgian port of Supsa via the Baku-Supsa pipeline.
AZERI LT FOB Ceyhan oil price was $50.66 per barrel or $0.93 per barrel more than the previous price, according to the source.
Azerbaijan also exports URALS oil from the Novorossiysk port, which is delivered via the Baku-Novorossiysk pipeline.
The price of URALS (EX-NOVO) was $46.9 per barrel, or $0.98 per barrel more than the previous price.
The price of Brent Dated, produced from the North Sea was $49.13 per barrel on Oct.16, or $1.09 per barrel more than the previous price.
Edited by SI
Follow the author on Twitter: @MaksimTsurkov