SOCAR Closes Tender on Selling Oil Consignment from Novorossiysk

Oil&Gas Materials 9 February 2007 12:28 (UTC +04:00)

SOCAR closed a tender on sale of the oil consignment at a volume of 450 mln barrels of oil (60,000 tons) from the Russian Port of Novorossiysk, Trend reports. Swiss trader Glencore won the tender.

The oil consignment is expected to be shipped on February 27-28, 2007 from Pier 6 or 7. The transportation of SOCAR oil via Baku-Novorossiysk has been stopped since January. It is justified through the issue that the oil is sent to the oil refineries to produce fuel for the electric power stations. In 2006, SOCAR shipped 3,462 mln tons of oil. In 2006, SOCAR shipped 1,172 mln tons of oil from the Port at Novorossiysk. In 2005, this indicator was 1,631mln tons.