SOCAR Announces Tender for Sale of Oil Consignment from Ceyhan Port

Oil&Gas Materials 23 February 2007 13:21 (UTC +04:00)

Azerbaijan , Baku /corr Trend S.Aliyev / The State Oil Company of Azerbaijan (SOCAR) closed a tender on the sale of consignment of its own oil branded Azeri Light from the Turkish Mediterranean Port of Ceyhan. The oil consignment is delivered to the Port via the Baku-Tbilisi Ceyhan Port , a source in SOCAR informed Trend. Swiss trader Addax won the tender.

The volume of the oil consignment will reach 1 mln barrels of oil (135,000 tons). The shipment is expected to take place on 21 st to 23 rd March.

The price on crude AZERI LT FOB Ceyhan on February 21 st was $58.02 per barrel (up $1.60 per barrel as compared to previous price).

SOCAR oil consignments from Ceyhan Port have been purchased by the following companies in 2007:

Glencore Energy UK Ltd - January (1 mln. barrels);

VILMA OIL S.L - January-February (1 mln. barrels);

Select Energy GmbH - February (600.000 barrels);

Select Energy GmbH - February-Mart (1 mln. barrels).

Addax BV - March (1mln barrels)

Taking into consideration the least cargo, since the beginning of the year SOCAR sold 1,275mln tons of oil.