SOCAR closes a tender on sale of oil lot in December

Oil&Gas Materials 30 November 2005 11:36 (UTC +04:00)

The State Oil Company of Azerbaijan (SOCAR) closed a tender on sale of 170,000 tons of Urals oil from the Novorossiysk port in December on FOB basis, the SOCAR told Trend.

Glencore won the tender on shipment of the oil batch by two tankers 85,000 tons each on 24-25 and 30-31 December. One of the lots is profitable, as it is comprised of oil extracted from Azeri-Chirag-Gunashli fields, while the other is regular.

The money from sale of the profitable lot will be transferred to the State Oil Fund.

Thus, this year Glencore acquired a total of 557,000 tons of oil at the Novorossiyk port through the tenders of SOCAR.

Purchases of the Azeri oil at tenders from early 2005 are as flowing:

January - LUKOIL (140,000 tons), Vitol (80,000 tons);

February - LUKOIL (160,000 tons), Arcadia (140,000 tons);

March - BP Oil Trading (80,000 tons), Total (140,000 tons);

April - Glencore (160, 000 tons);

May вЂ" RD Shell (80, 000 tons); LUKOIL (85, 000 tons);

June - Mercuria Energy Trading (82, 000 tons);

July - Mercuria Energy Trading (170, 000 tons);

August - Sun Oil (164, 000 tons), Glencore (142, 000 tons);

September вЂ" LUKOIL (79, 000 tons);

October - Mercuria Energy Trading (142, 000 tons), Vitol (85 , 000 tons).

November вЂ" Glencore (85, 000 tons).