Bank Of Baku

Azerbaijan boosts crude export from Novorossiysk

Azerbaijan boosts crude export from Novorossiysk
# 04 March 2009 07:43 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. The Marketing Department of the State Oil Company of Azerbaijan (SOCAR) exported 218 453 tonnes of crude oil from Russia’s Novorossiysk Port during February, up 32.2% on a year ago.
The company press service said in total 385 640 tonnes of crude was exported through this route during January-February.
Brent oil was sold at $43.07, Urals oil at $42.32 and BTC FOB Ceyhan at $44 per barrel in February.
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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