SOCAR, Transneft ink new oil transportation deal
Baku, Azerbaijan, Feb. 25
By Maksim Tsurkov - Trend:
Azerbaijani state oil company SOCAR and Russian company Transneft signed a new agreement on oil transportation via the Baku-Novorossiysk pipeline, Russian media quoted Igor Demin, Transneft president's advisor, as saying Feb. 25.
He added that SOCAR will resume oil transportation via this pipeline on March 1.
"Initially, it was planned to transport around 1.3 million tons of oil [via the pipeline]. However, as the agreement will be effective only from March, transportation volumes will be less," Demin explained.
Demin said the volumes will be defined for every month.
He added that the agreement is similar to the ones signed in previous years.
SOCAR transported 1.27 million tons of oil via the Baku-Novorossiysk pipeline in 2015, compared to 932,160 tons in 2014.
The Baku-Novorossiysk pipeline is 1,147 kilometers long. The length of its Azerbaijani section is 231 kilometers and Russian section - 916 kilometers.
The pipeline was filled with oil in October 1996. Its highest capacity stands at 105,000 barrels a day.
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