SOCAR Closes Oil Sale Tender from Novorossiysk

Oil&Gas Materials 21 July 2007 13:58 (UTC +04:00)

Azerbaijan, Baku / Trend / The Marketing and Economic Operations Department (MEOD) of the State Oil Company of Azerbaijan (SOCAR) has closed the tender on oil export via the Baku-Novorossiysk pipeline in August. The tender was won by Glencore Company.

The volume of oil in the consignment is equal to 1,2mln barrels of oil. The first shipment is expected to take place between 16-18 August (600.000 tons) and the second between 29-31 August.

In January-June SOCAR exported 497,000 tons of oil via the Baku-Novorossiysk oil pipeline.

In 2007 oil cargoes from Novorossiysk have been purchased by the following companies:

Glencore Energy UK Ltd - February (450,000 barrels);

REOC Ltd - March (450,000 barrels);

Glencore Energy UK Ltd - April (450,000 barrels).

Sunoil SA - May (450,000 barrels).

Oil Refineries LTD - June (1.2mln barrels).

Oil Refineries LTD - July (1.2mln barrels);

Glencore - August (1.2 mln barrels).