Baku, Azerbaijan, Feb. 4
By Azad Hasanli – Trend:
The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, was $58.08 per barrel at the Italian port of Augusta on Feb. 3, or $0.04 more compared to the price on Feb. 2, a source in Azerbaijan’s oil and gas market told Trend Feb. 4.
On Feb. 2, the price of the AZERI LT oil exceeded $58 per barrel for the first time since July 22, 2015.
The AZERI Light FOB Ceyhan oil price was $57.46 per barrel on Feb. 3, or $0.04 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 $53.98 per barrel on Feb. 3, or $0.1 more than the previous price.
The price for a barrel of Brent Dated, produced from the North Sea, stood at $56.17 on Feb. 3, which is equal to the previous price.