Oil Prices Increase in Azerbaijan
Azerbaijan, Baku / Trend corr V. Sharifov / The price for AZERI LT FOB Ceyhan made up $74.83 a barrel on 3 September, which is $0.69 a barrel more than the previous price, according to the State Oil Company of Azerbaijan Republic.
The price of AZERI LT CIF Augusta increased by $0.69 and made up $75.45 a barrel on 3 September.
Azeri Light oil is produced in the off-shore Azeri-Chirag-Gunashli fields, the development operator for which is BP. The oil without mixing with other oil grades is delivered to the Turkish port of Ceyhan via the 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% of sulphur.
The price for URAL (EX-NOVO) rose by $0.74 and made up $70.91 a barrel on 3 September.
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% of sulphur.
The price for Brent Dated increased by $1.35 and comprised $73.70 a barrel on 3 September. The consistence of Brent Dated is 38.3 degrees of API, with 0.36% of sulphur.