Azerbaijani oil prices down on April 1

Oil&Gas Materials 2 April 2016 13:55 (UTC +04:00)

Baku, Azerbaijan, April 2

By Azad Hasanli - Trend:

The price for AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, was $39.22 per barrel at the Italian port of Augusta on April 1, or $2.07 less compared to the price on March 31, a source in Azerbaijan's oil and gas market told Trend April 2.

AZERI Light FOB Ceyhan oil price was $38.43 per barrel on April 1, or $2.06 less than the previous price.

Azerbaijan has been producing AZERI LT since 1997 and exports it via Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines, as well as by rail to the Georgian port of Batumi.

Azerbaijan also exports URALS oil from Russia's Black Sea port of Novorossiysk. The oil is delivered there via the Baku-Novorossiysk pipeline.

The price for URALS-NOVO was $34.8 per barrel on April 1, or $1.86 more than the previous price.

The price for a barrel of Brent Dated, produced from the North Sea, stood at $36.5 per barrel April 1 or $2.2 less than March 31.


Follow the author on Twitter: @AzadHasanli