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OPEC estimates 13% loss in oil exports via Baku-Tbilisi-Ceyhan

Oil&Gas Materials 12 November 2021 16:16 (UTC +04:00)
OPEC estimates 13% loss in oil exports via Baku-Tbilisi-Ceyhan

BAKU, Azerbaijan, Nov.12

By Leman Zeynalova – Trend:

Exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline in September were broadly unchanged at 500,000 barrels per day, but still showed a loss of 13 percent year-on-year, Trend reports with reference to OPEC.

The cartel notes that Black Sea total exports improved in September, increasing 91 mb/d or almost 8 percent compared to the previous month and were around 2 percent higher than the same month last year. Outflows from the Novorossiysk port terminal (CPC) drove the increase, rising 10 percent or 110 tb/d, while exports from Supsa fell 18 percent or 19 tb/d.

Total crude oil exports from Russia and Central Asia recovered in September, averaging 6.1 mb/d. M-o-m, crude exports were 0.3 mb/d or over 5 percent higher. Compared to the same month last year, total crude exports from the region were also about 0.3 or 5 percent higher.

Since the 1,768 km BTC pipeline became operational in June 2006 till the end of the third quarter of 2021, it carried a total of 3.71 billion barrels (more than 495 million tonnes) of crude oil loaded on 4,863 tankers and sent to world markets.

The BTC Co. shareholders are: bp (30.1 percent); AzBTC (25 percent); MOL (8.9 percent); Equinor (8.71 percent); TPAO (6.53 percent); Eni (5 percent); Total (5 percent), ITOCHU (3.40 percent); INPEX (2.5 percent), ExxonMobil (2.5 percent) and ONGC (BTC) Limited (2.36 percent).

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Follow the author on Twitter: @Lyaman_Zeyn

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