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Azerbaijani oil prices drop

Oil&Gas Materials 24 May 2016 14:36 (UTC +04:00)

Baku, Azerbaijan, May 24

By Anvar Mammadov - Trend:

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, was $49.83 per barrel at the Italian port of Augusta on May 23, or $0.57 less compared to the price on May 20, a source on Azerbaijan's oil and gas market told Trend May 24.

The AZERI Light FOB Ceyhan oil price was $49.03 per barrel on May 23, or $0.54 less 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 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.

The price for URALS-NOVO was $45.02 per barrel on May 23, or $0.54 less than the previous price.

The price for a barrel of Brent Dated, produced from the North Sea, stood at $48.55 on May 23, or $0.64 less than the previous price.

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Follow the author on Twitter: @Anvar_Mammadov

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