SOCAR increases oil export through Russian hub
Baku, Azerbaijan, Nov.2
By Maksim Tsurkov - Trend:
The State Oil Company of Azerbaijan (SOCAR) has exported 1.1 million tons of oil via the Baku-Novorossiysk pipeline from Jan.-Oct. 2015, or 29.9 percent more than in the same period in 2014, the company's website said.
SOCAR didn't export oil from Novorossiysk in October 2015, while it transported 84,770 tons in October 2014.
The company exported 932,160 tons of oil via the Baku-Novorossiysk pipeline in 2014, compared to 1.75 million tons in 2013.
SOCAR exports 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 the company.
The State Oil Company is expected to transport 1.4 million tons of oil produced by the company at onshore and offshore fields of Azerbaijan as of 2015.
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