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Azerbaijani oil price continues to decrease

Finance Materials 12 September 2020 13:06
Azerbaijani oil price continues to decrease

BAKU, Azerbaijan, Sept. 12

By Zeyni Jafarov - Trend:

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by 39 cents on Sept. 11 compared to the previous price, making up $40.5 per barrel, Trend reports with reference to the source from the country's oil and gas market.

The price of Azeri LT FOB Ceyhan amounted to $39.97 per barrel on Sept. 11, which is 39 cents less compared to the previous price.

Azerbaijan has been producing Azeri LT since 1997 and exporting it via the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa Western Export Pipeline, as well as by rail to the Georgian port of Batumi.

Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline.

The price of URALS with shipment from the port made up $38.39 per barrel on Sept. 11, having decreased by 44 cents compared to the previous price.

The cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $39.05 per barrel on Sept. 11, which is 39 cents less compared to the previous price.

(1 USD = 1.7 AZN on Sept. 12)

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