Prices for Azerbaijani Oil Dramatically Decrease
Azerbaijan, Baku / Trend corr V. Sharifov / The price for AZERI LT FOB Ceyhan oil made up $75.36 per barrel on 24 July, which is $1.9 per barrel less than the previous price, according to the State Oil Company of Azerbaijan Republic (SOCAR).
The price for AZERI LT CIF Augusta decreased by $1.87 per barrel making up $76.27 per barrel on 24 July.
Azeri Light oil is produced in the block of Azerbaijani off-shore Azeri-Chirag-Guneshli fields, by BP, the development operator. Pure oil is delivered to the Turkish port of Ceyhan via Baku-Tbilisi-Ceyhan pipeline (BTC), to the Georgian port of Supsa via the Baku-Supsa pipeline, and to the Georgian port of Batumi by railway. The consistence of Azeri Light comprises 34.8 degrees of API, with 0.15% sulphur content.
The price for URAL (EX-NOVO) dropped by $2.05 coming down to $71.97 per barrel on 24 July.
Azerbaijan sells URAL oil from Novorossiysk port delivering it through the Baku-Novorossiysk pipeline. High-quality Azerbaijani oil, including Azeri Light oil grade, is mixed with other oil grades in the Russian pipeline system and is sold from Novorossiysk in the form of URAL. The consistence of URAL is 30.4-31.85 degrees of API, with up to 1.8% sulphur content.
The price for Brent Dated decreased by $1.96 and comprised $75.94 per barrel on 24 July. The consistence of Brent Dated is 38.3 degrees of API, with a 0.36% sulphur content.