SOCAR Closes Tender for Oil Sale from Novorossiysk

Oil&Gas Materials 19 October 2006 13:43 (UTC +04:00)

The State Oil Company of Azerbaijan (SOCAR) closed the October tender for the sale of two Ural oil tanker loads totaling 1,204 million barrels of Ural oil from Port Novorossiysk, Trend reports. A British trader Glencore Energy won the tender.

The shipment of the first load comprising 584,000 barrels, or 80,000 tons is scheduled for 7-8 November, while the second, 620,000 barrels, or 85,000 ton, will be unloaded on 18-19 November.

In October SOCAR sold 3 oil cargos from Novorossiysk. The first two cargoes were sold to Swiss trader Sun Oil S.A., while the third was acquired by the British trader REOC Ltd.

During 2005 SOCAR shipped 1.631mln tons of oil from Novorossiysk compared to 2.559mln tons in 2004.

Since the beginning of 2006 SOCAR sold oil loads to the following companies in Novorossiysk

January Glencore (85,000 tons);

February Taurus Petroleum (140,000 ton); Glencore (60,000 tons);

May - Glencore (60,000 tons);

June Glencore (60,000 tons);

July - Glencore (60,000 tons);

August - Glencore (131,000 tons); Select Energy (78,000 tons);

September - Reoc Ltd. (85,000 tons); Vitol (85,000 tons).

October - Sun Oil S.A. (160,000 tons);

October - REOC Ltd. (135,000 tons).

November - Glencore Energy UK Ltd (165,000 tons)