Azeri Oil Prices Increased
Azerbaijan, Baku / corr. Trend V.Sharifov / On 23 May AZERI LT FOB Ceyhan oil price was $70.00 per barrel (up $0.58 per barrel as compared to the previous day). AZERI LT CIF Augusta oil price was $71.20 per barrel (+ $0.43 per barrel). Azeri Light oil is produced from Azeri-Chirag-Gunashli offshore fields, which is developed under BP's operations. Without any mixing with other brands of oil it is delivered to the Turkish port of Ceyhan via the Baku-Tbilisi-Ceyhan main export oil pipeline, to the Georgian port of Supsa via the Baku-Supsa pipeline and to the Georgian port of Batumi by railway. Density of Azeri Light is 34.8 degrees by the API, and sulphur content is 0.15%. On 22 May, the price of URAL (EX-NOVO) was $66.09 per barrel (+$0.53 per barrel).
Azerbaijan exports URAL oil from the Novorossiysk port, which is delivered via the Baku-Novorossiysk pipeline. The high quality of Azerbaijani oil, including Azeri Light, is blended with other oil brands in the Russian pipeline system and is sold from the Novorossiysk in the type of URAL. Density of URAL is 30.4-31.85 degrees by the API, and sulphur content is up to 1.8%.
On 22 May, the price of Dated Brent was $70.37 per barrel (+$0.54 per barrel).
Density of Dated Brent is 38.3 degrees according to the API, and sulphur content 0.36%.