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Azerbaijani oil prices almost unchanged on May 12

Oil&Gas Materials 13 May 2016 16:46

Baku, Azerbaijan, May 13

By Maksim Tsurkov - Trend:

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, was $48.25 per barrel at the Italian port of Augusta on May 12, which is same as the price on May 11, a source in Azerbaijan's oil and gas market told Trend May 13.

The AZERI Light FOB Ceyhan oil price was $47.41 per barrel on May 12, or $0.01 more than the previous price.

Azerbaijan has been producing AZERI LT since 1997 and exports it via the 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 $43.76 per barrel on May 12, or $0.1 more than the previous price.

The price for a barrel of Brent Dated, produced from the North Sea, stood at $46.53 on May 12 or $0.47 more than the previous price.

Edited by EA

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Follow the author on Twitter: @MaksimTsurkov

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