Azerbaijani oil prices on Feb. 28

Oil&Gas Materials 2 March 2020 12:08 (UTC +04:00)

BAKU, Azerbaijan, March 2

By Nargiz Ismayilova - Trend:

The price of the AZERI LT CIF oil produced at the Azeri-Chirag-Gunashli block of oil and gas fields was $51.98 per barrel at the Italian port of Augusta on Feb. 28, which is $1.69 less than the previous price on Feb. 27, a source in Azerbaijan's oil and gas market told Trend on March 2.

On Feb. 28, AZERI Light FOB Ceyhan oil price was $51.17 per barrel, which is $1.7 less compared to the previous price.

Azerbaijan has produced AZERI LT since 1997, which it exports via the Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines, and 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 including shipment from port was $45.94 per barrel on Feb. 28, or $1.66 less compared to its previous price.

The price for a barrel of North Sea Brent Dated, produced from the North Sea, stood at $50.49 on Feb. 28 or $1.78 less than the previous price.

(1 USD = 1.7 AZN on Feb. 28)


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