Azerbaijan increases Russia-bound crude exports

Azerbaijan increases Russia-bound crude exports
# 10 August 2009 16:45 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. The State Oil Company of Azerbaijan (SOCAR) exported 247 042 tons of crude oil through the Baku-Novorossiysk route during July, up 44.8% from June.

In total 1 475 567 tons of crude was pumped via this route in January-July, up 88.6% from the same period last year.

The average price of Brent crude was $64.61 per barrel, Ural $64.85 and BTC FOB Ceyhan $65.11 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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