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Azerbaijan Notifies on Volume of Oil Pumping via Baku-Novorossiysk in 1 Quarter of 2007

Oil&Gas Materials 2 December 2006 14:25 (UTC +04:00)

The State Oil Company of Azerbaijan (SOCAR) informed Trend that the Azerbaijan International Operating Company (AIOC) notified on pumping of 400,000 tons of oil per month in the first quarter of 2007 via the Northern pipeline Baku-Novorossiysk.

The AIOC intention on pumping via the Baku-Novorossiysk pipeline in the first quarter of 2007 is explained with repair work in the Baku-Supsa pipeline, which will last till the end of January.

The SOCAR noted that 85,000 tons of entire 400,000 tons fell on the northern pipeline.

In February and March the share of AIOC in the general volume of pumping varied from 150,000 to 315,000 tons, the SOCAR said.

The AIOC enjoys a priority right for oil pumping via the Baku-Novorossiysk, as it an operator of the pipeline.

In December SOCAR will ship from Novorossiysk two oil cargoes 1,080mln barrels and 620,000 barrels. REOC Ltd purchased the oil consignments which will be shipped in the timeline from 20 to 31 December.

Since the beginning of 2006 the SOCAR has sold 1,536mln tons of oil from Novorossiysk. Major part of oil was purchased by Glencore (621,000 tons). It is followed by REOC Ltd (452,000 tons, Sun Oil (160,000 tons), Taurus Petroleum (140,000 tons), Vitol (85,000 tons) and Select Energy (78,000 tons).

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