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SOCAR Announced Oil Export Volumes via Northern Route in January, 2007

Oil&Gas Materials 2 February 2007 17:26 (UTC +04:00)

SOCAR exported 4 thousand 151 tons of oil via the Northern Route - Baku-Novorossiysk Pipeline in January, 2007, a source in SOCAR informed Trend. In January 2007, Azerbaijan oil was not shipped from the Russian Black Sea Port of Novorossiysk at all due to the bad weather conditions. SOCAR is currently not piping its oil via the Northern Route. It is explained by the fact that the whole oil volumes SOCAR produces are being sent to local oil refinery to obtain fuel considered for heat energy plants to generate electric power. As of 2007, Azerbaijan has not imported gas from Russia, which was used in Azerbaijan electric power stations as fuel to generate electric energy. SOCAR does not rule out the possibility to resume piping its oil consignments via the Baku-Novorossiysk Pipeline. SOCAR might pipe a consignment of its oil at a volume of 60,000 tons via this route in February 2007. According to traders, the forthcoming oil consignment might be shipped from Mooring Line #6 or #7 on February 27-28. SOCAR exported
3 mln. 462 thousand tons of crude oil in 2006, with 1 mln. 172 thousand tons of oil - via the Baku-Novorossiysk Pipeline. In 2005, SOCAR exported via the above-mentioned route 1 mln. 631 thousand tons of oil.

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