Baku, Azerbaijan, April 12
By Maksim Tsurkov – Trend:
The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, for the first time since Nov.28, 2014 exceeded the figure of $74, a source in the oil and gas market of the country told Trend on April 12.
The price of the AZERI LT CIF oil amounted to $74.48 per barrel at the Italian port of Augusta on April 12, that is $1.9 more than on April 11. The last time the Azerbaijani oil price hit over $74 on Nov. 28, 2014 - then its price was $74.52 per barrel.
The AZERI Light FOB Ceyhan oil price was $73.93 per barrel on April 11, or $1.9 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 $69.65 barrel on April 11 or $1.68 more than the previous price.
The price for a barrel of Brent Dated, produced from the North Sea, stood at $72.55 on April 11 or $2.28 more than the previous price.