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Azerbaijani oil prices down on July 1

Oil&Gas Materials 2 July 2016 12:10 (UTC +04:00)

Baku, Azerbaijan, July 2
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 $50.11 per barrel at the Italian port of Augusta on July 1, or $0.45 less compared to the price on June 30, a source on Azerbaijan’s oil and gas market told Trend July 2.

The AZERI Light FOB Ceyhan oil price was $49.35 per barrel on July 1, or $0.42 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 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 $46.27 per barrel on July 1, or $0.55 less than the previous price.

The price for a barrel of Brent Dated, produced from the North Sea, stood at $48.06 on July 1 or $0.38 less than the previous price.

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Follow the author on Twitter: @Anvar_Mammadov

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