Azerbaijani oil prices reach highest since 2014
Baku, Azerbaijan, Jan. 11
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 $71.25 per barrel at the Italian port of Augusta on Jan. 10, that is $0.81 more than on Jan. 9, a source on Azerbaijan’s oil and gas market told Trend Jan. 11.
The price of the AZERI LT CIF oil last exceeded $71 in October 2014.
The AZERI Light FOB Ceyhan oil price was $70.62 per barrel on Jan. 10, or $0.83 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 $68.05 per barrel on Jan. 10, or $0.89 more than the previous price.
The price for a barrel of Brent Dated, produced from the North Sea, stood at $69.94 on Jan. 10 or $0.82 more than the previous price.