Azerbaijani oil prices slump
BAKU, Azerbaijan, May 28
By Nargiz Ismayilova – Trend:
The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, reached $35.13 per barrel on May 27, which is 87 cents less compared to the previous price, Trend reports with reference to the source from the country's oil and gas market.
The price of Azeri LT FOB Ceyhan amounted to $34.39 per barrel on May 27, which is 87 cents less compared to the previous price.
Azerbaijan has been producing Azeri LT since 1997 and exporting it via the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa Western Export Pipeline, as well as by rail to the Georgian port of Batumi.
Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk oil pipeline.
The price of URALS with shipment from the port amounted to $34.15 per barrel on May 27, which is 78 cents less compared to the previous price.
The cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $32.61 per barrel on May 27, showing a decrease of 79 cents.
(1 USD = 1.7 AZN on May 28)
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