Azerbaijani oil prices decline

Azerbaijani oil prices decline

BAKU, Azerbaijan, Nov. 18

By Zeyni Jafarov – Trend:

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by $1.02 on Nov. 17 compared to the previous price, making up $43.49 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 $42.96 per barrel on Nov. 17, which is $1.03 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 stood at $42.23 per barrel on Nov. 17, which has declined by 93 cents compared to the previous price.

The cost of a barrel of Brent Dated oil, produced in the North Sea, made up $42.05 per barrel, down by $1.07 compared to the previous price.

(1 USD = 1.7 AZN on Nov. 18)

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Follow the author on Twitter:@jafarov_zeyni

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