Baku, Azerbaijan, Dec. 26
By Anvar Mammadov - Trend:
The average price for AZERI LT (CIF based), extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $37.29 per barrel on Dec. 21-24 or $1.01 per barrel less than the previous week.
The maximum price for AZERI LT was $38.05 per barrel and the minimum price was $36.71 per barrel during the reporting period.
Azerbaijan sells AZERI LT via the Turkish port of Ceyhan and Georgian ports - Batumi and Supsa. The oil is supplied to Ceyhan via the BTC pipeline and to Georgia - via the Baku-Supsa pipeline and railway.
Azerbaijan plans to extract an average of 0.87 million barrels of Azeri Light per day in 2016.
The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port reached $32.33 per barrel or $1 per barrel less than the previous week.
The maximum price for Urals totaled $33.07 per barrel and the minimum - $31.81 per barrel.
Azerbaijan sells oil supplied via the Baku-Novorossiysk pipeline through this Russian port.
SOCAR plans to pump 1.4 million tons of oil through the pipeline in 2016.
The average price for Brent Dated was $36.23 per barrel or $0.91 per barrel less than the previous week.
The maximum price for Brent was $37.08 per barrel and the minimum - $35.76 during the reporting period.
International financial institutions forecast that the average Brent price will reach $55-60 per barrel in 2016 compared to $53-55 per barrel in the current year.