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Azerbaijani oil prices drop

Oil&Gas Materials 10 May 2016 16:30

Baku, Azerbaijan, May 10

By Maksim Tsurkov - Trend:

The price for AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, was $44.69 per barrel at the Italian port of Augusta on May 9, or $2.24 less compared to the price on May 6, a source on Azerbaijan's oil and gas market told Trend May 10.

AZERI Light FOB Ceyhan oil price was $43.89 per barrel on May 9, or $2.24 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 $40.05 per barrel on May 9, or $2.35 less than the previous price.

The price for a barrel of Brent Dated, produced from the North Sea, stood at $42.42 per barrel May 9, or $2.2 less than the previous price.

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Follow the author on Twitter: @MaksimTsurkov

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