Price of Azerbaijani Oil: Weekly Review (April 9 - 13)
Azerbaijan, Baku /corr Trend V.Sharifov / Last week (9 - 13 April), the average price of AZERI LT (CIF) oil brand, Azerbaijan sold via the Georgian Ports Supsa and Batumi was $68.29 per barrel, or the same as the previous week.
The maximum price on AZERI LT was $68.26 per barrel, the minimum price was $67.15 per barrel.
The density of Azeri Light is 34.6 degrees by API, the sulfur content is 0.14%.
Last week, the average price of the oil brand URAL (EX-NOVO), Azerbaijan sells via the Russian Port of Novorossiysk was $63.21 a barrel which is down $0.15 a barrel or 0.3% versus the average price of the corresponding oil brand fixed in the previous week. The maximum price on URAL was $64.04 per barrel last week. The minimum price was $61.94 a barrel.
The density of URAL is 32 degrees by API, sulfur content is up to 1.3%. However, during the selling of this oil brand, its specifications vary depending on prevailing oil brands of high-quality or poor-quality in its content.
During this period the average price of the etalon oil brand Brent (DTD) was $68.05 per barrel, which is down $0.64 per barrel or by 1% from the average price on the corresponding oil brand fixed in the previous week. Last week, the maximum price on Brent was $69.85 a barrel, the minimum price was $66.93 per barrel.
The density of DTD is 38.3 degrees API, its sulphur content is 0.36%.
Since the beginning of 2007 the average price of Azeri Light, delivered to Augusta port on CIF terms, made up $58.68 per barrel, or $7.12 per barrel less than in 2006. In 2005 the average price of Azeri Light CIF Аugusta made up $55 per barrel, or $15 per barrel less than in 2004.
Since the beginning of 2007 the average premium of Azeri LT CIF with respect to Brent Dated made up $0.75 per barrel against $0.25 per barrel in 2006. In 2005 the average premium of Azeri LT CIF with respect to Brent Dated comprised $0.6 per barrel against $0.90 per barrel in 2004.