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Azerbaijani oil prices increase

Oil&Gas Materials 19 May 2016 16:36

Baku, Azerbaijan, May 19
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 $51.16 per barrel at the Italian port of Augusta on May 18, or $0.43 more compared to the price on May 17, a source on Azerbaijan's oil and gas market told Trend May 19.

The AZERI Light FOB Ceyhan oil price was $50.44 per barrel on May 18, or $0.43 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 $46.29 per barrel on May 18, or $0.6 more than the previous price.

The price for a barrel of Brent Dated, produced from the North Sea, stood at $49.25 on May 18, or $0.29 more than the previous price.

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