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SOCAR to Sell Oil from Novorossiysk in January

Oil&Gas Materials 27 January 2007 14:49 (UTC +04:00)

SOCAR (State Oil Company of Azerbaijan) is expected to sell an oil consignment belongs to joint-stock companies and operating companies engaged in oil producing in Azerbaijan onshore, a source in SOCAR told Trend. The volume of the oil consignment to be sold will reach 60.000 tons.

The oil consignment will be carried via the Baku-Novorossiysk Pipeline.

SOCAR will not carry its own oil via the northern route in January, 2007, since it will be sent to local oil refineries to refine mazut. The mazut will replace Russian gas to generate electric power at electric power stations of the country. Notably, the Azerbaijani party has recently repudiated to buy the Russian gas.

SOCAR totally exported about 3 mln. 462 thousand tons of crude oil in 2006. Via the northern rote, SOCAR exported 1 mln.172 thousand tons of crude last year (1 mln. 631 thousand tons in 2005).

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