Bank Of Baku

SOCAR slightly increases crude exports via Baku-Novorossiysk pipeline

SOCAR slightly increases crude exports via Baku-Novorossiysk pipeline
# 05 June 2009 15:30 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. The State Oil Company of Azerbaijan (SOCAR) exported 224 252 tons of crude oil through the Baku-Novorossiysk route during May, up 0.1% from April.

In total 1 057 977 tons of crude was pumped via this route in January-May.

The average price of Brent crude was $57.48 per barrel, Ural $57.07 and BTC FOB Ceyhan $58.41 in May.

The SOCAR has been exporting oil through Baku-Novorossiysk since 1997.

Azerbaijan’s Azeri Light is a lighter crude oil and yields more light products at the refinery and less residue.
Because Azeri oil mixes with Russian crudes in Novorossiysk Port (the Black Sea), the mixture is branded as Urals.
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