...

SOCAR starting fuel oil shipment from Baltics to world markets

Oil&Gas Materials 4 December 2017 18:21 (UTC +04:00)

Baku, Azerbaijan, Dec. 4

Trend:

Azerbaijan’s state oil company SOCAR is starting fuel oil export from the Baltic ports to the world markets, a source in SOCAR told Trend Dec. 4.

The source said SOCAR will ship about 320,000 tons of fuel oil produced in Belarus and Lithuania until December 10.

“SOCAR will ship two cargos of 120,000 tons of oil products from Ventbunkers terminal in the Latvian port of Ventspils as part of a contract with the Belarusian trader BNK, a marketing division of the Mozyr and Novopolotsk oil refineries. The bulk of fuel oil is to be sold to the Singapore trader Coral Energy,” the source said.

The source noted that SOCAR will ship 80,000 tons of fuel oil from the Klaipeda terminal in Lithuania in accordance with an agreement with the Polish PKN Orlen.

SOCAR is actively working in the Black Sea oil products market, regularly sending naphtha from Novorossiysk. The company also participates in transportation of Azeri Light crude from Supsa, Georgia, to the Black Sea port of Odessa, from where the oil is subsequently sent for processing to a Ukrainian oil refinery.

Latest

Latest