Azerbaijani oil prices drop
Baku, Azerbaijan, Nov.12
By Maksim Tsurkov - Trend:
The price of AZERI LT CIF Augusta stood at $46.71 per barrel on Nov.11, or $1.38 per barrel less compared to the price on Nov.10, a source on the country's oil and gas market told Trend Nov.12.
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 $45.54 per barrel or $1.38 per barrel less 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 $41.29 per barrel, or $1.38 per barrel less than the previous price.
The price of Brent Dated, produced from the North Sea was $44.69 per barrel on Nov.11, or $1.31 per barrel less than the previous price.
Follow the author on Twitter: @MaksimTsurkov