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SOCAR to Sell Out a Large Oil Tanker Consignment to Thai Oil Company

Oil&Gas Materials 23 April 2007 19:10 (UTC +04:00)

Azerbaijan, Baku/ Trend , corr. S. Aliyev/ SOCAR (State Oil Company of Azerbaijan Republic is expected to ship a large tanker light crude consignment to Thailand's PTT Public Company Limited from the Turkish Mediterranean Sea Port of Ceyhan on 7 May, 2007, a SOCAR representative stated today. The volume of the forthcoming oil consignment is believed to reach 1mln. barrels of Azeri Crude Light.

SOCAR will deliver up to 1mln. barrels of oil branded Azeri Light per month to Thailand-based oil refineries within the contract on SOCAR's direct deliveries, which was signed between SOCAR and PTT on 28 February, 2007. The oil will be delivered on the terms of FOB or CFR from the Ceyhan Port, where Azerbaijani oil is piped via BTC (Baku-Tbilisi-Ceyhan Pipeline).

PTT Public Company Limited is Thailand's largest oil company, engaged in oil and gas production, oil refining, its transportation, as well as importation-exportation of hydrocarbons and oil products.

PTT has its stakes in Thailand's four oil refineries with the daily refining capacity of 925,000 barrels of oil.

SOCAR is currently negotiating its own direct oil deliveries, including to U.S.A and the Far East from the Ceyhan Port. SOCAR produces light oil on the offshore bloc of field of Azeri-Chiragh-Gunashli within the Contract of the Century signed in 1994.

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