Azerbaijani oil prices continue to decrease

Finance Materials 15 January 2021 10:42 (UTC +04:00)

BAKU, Azerbaijan, Jan.15

By Zeyni Jafarov – Trend:

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by 61 cents on Jan.14 compared to the previous price, making up $55.96 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 $55.39 per barrel on Jan.14, which is 62 cents less than 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 reached $54.11 per barrel on Jan.14, having slipped by 57 cents compared to the previous price.

The cost of a barrel of Brent Dated oil, produced in the North Sea, made up $55.29 per barrel, also dropping by 57 cents compared to the previous price.


Follow the author on Twitter: @jafarov_zeyni