SOCAR Sells Oil Consignment from Ceyhan Port

Oil&Gas Materials 25 April 2007 19:19 (UTC +04:00)

Azerbaijan, Baku / corr. Trend / The State Oil Company of Azerbaijan (SOCAR) announced a tender on the sale of its own oil branded Azeri Light from the Turkish Port of Ceyhan. The oil consignment is delivered to the Port via the Baku-Tbilisi-Ceyhan pipeline, a source in SOCAR informed. The shipment is expected to take place on 29 to 31 May. The results of the tender will be announced on 2 May. The volume of the oil consignment will reach 1 mln barrels of oil (135,000 tons). On 20 April the price on crude AZERI LT FOB Ceyhan was $65.30 per barrel (up $0.35/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-March mln barrels);

Glencore Energy UK Ltd - March (1 mln barrels);

Addax BV- March (1 mln barrels);

Sumato Energy Group Ltd - April (1 mln barrels);

Select Energy GmbH - April (1 mln barrels);

Arcadia Petroleum Limited - May (2 mln barrels).