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Azerbaijani oil prices continue to grow

Finance Materials 24 February 2021 11:34
Azerbaijani oil prices continue to grow

BAKU, Azerbaijan, Feb.24

By Zeyni Jafarov – Trend:

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, grew by 55 cents on Feb.23 compared to the previous price, making up $65.12 per barrel, Trend reports referring to the source from the country's oil and gas market.

The price of Azeri LT FOB Ceyhan amounted to $64.22 per barrel on Feb.23, which is also 55 cents more 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 $61.44 per barrel on Feb.23, having risen by 65 cents compared to the previous price.

Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea, made up $65.08 per barrel, growing by 83 cents compared to the previous price.

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Follow the author on Twitter: @jafarov_zeyni

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