Oil prices and dynamics of monetary market of Azerbaijan (Jan. 18-22)
The average price for AZERI LT (CIF based), extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $30.6 per barrel on Jan. 18-22 or $1.11 per barrel less than the previous week.
The maximum price for AZERI LT was $33.06 per barrel and the minimum price was $28.82 per barrel during the reporting period.
Azerbaijan sells AZERI LT via the Turkish port of Ceyhan and Georgian ports - Batumi and Supsa. The oil is supplied to Ceyhan via the BTC pipeline and to Georgia - via the Baku-Supsa pipeline and railway.
Azerbaijan plans to extract an average of 0.87 million barrels of Azeri Light per day in 2016.
The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port reached $25.33 per barrel or $0.87 per barrel less than the previous week.
The maximum price for Urals totaled $27.68 per barrel and the minimum - $23.73 per barrel.
Azerbaijan sells oil supplied via the Baku-Novorossiysk pipeline through this Russian port.
SOCAR plans to pump 1.4 million tons of oil through the pipeline in 2016.
The average price for Brent Dated was $27.81 per barrel or $1.21 per barrel less than the previous week.
The maximum price for Brent was $30.21 per barrel and the minimum - $25.99 during the reporting period.
The State Oil Fund of Azerbaijan (SOFAZ) sold $193.896 million to 28 domestic banks via an auction held by the Central Bank of Azerbaijan (CBA) January 18.
"Despite SOFAZ put up for sale $ 200 million via an auction, $193.896 million were sold to the banks," SOFAZ said.
CBA sold $98.217 million to 29 domestic banks through an auction on January 22.
"CBA put up for sale $ 200 million, but the total requirements of the banks amounted to $98.217 million," CBA said. "The requirements were met by 100 percent."