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Prices on Azerbaijan oil decline

Oil&Gas Materials 21 July 2020 15:59
Prices on Azerbaijan oil decline

BAKU, Azerbaijan, July 21

By Fidan Babayeva – Trend:

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, amounted to $44 per barrel on July 20, which is 51 cent 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 $43.39 per barrel on July 20, which is 50 cents less compared to the previous price.

Azerbaijan has been producing Azeri LT since 1998 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 pipeline.

The price of URALS with shipment from the port amounted to $42.86 per barrel on July 20, which is 85 cents less compared to the previous price.

The cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $43.15 per barrel on July 20, showing a decrease by 56 cents.

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Follow the author on Twitter: @Fidan_Babaeva

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