BAKU, Azerbaijan, May 16
By Nargiz Ismayilova – Trend:
As a result of fluctuations in world energy prices, the average price of Azeri Light crude oil per barrel on the world markets amounted to $66.9 last year, Trend reports referring to the report on Azerbaijani state budget performance in 2019.
According to the report, last year, the price of Azeri Light decreased by 8.5 percent compared to 2018. Despite this, the price exceeded the price indicator provided for in the budget by 11.5 percent.
As reported, the maximum export price in 2019 amounted to $73.9, and the minimum - $61.79.
Azeri Light oil is produced under a contract for the development of Azeri-Chirag-Guneshli (ACG) fields. Azerbaijani State Oil Company's (SOCAR) share in the project is 25 percent. The profit is distributed among the project shareholders depending on their equity participation in the contract.
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