SOCAR, Rosneft negotiating on transportation of Russia’s oil via Baku-Novorossiysk pipeline

SOCAR, Rosneft negotiating on transportation of Russia’s oil via Baku-Novorossiysk pipeline
# 19 August 2013 10:46 (UTC +04:00)

To him, SOCAR is collaborating with all large companies of the world: ‘Rosneft is one of the famous oil companies in the world. You know that Rosneft produces 210 mln tonnes of oil per annum. Today, joint trader works are being conducted in profitable sale of oil between the two companies. Infrastructures will be set in operation in the both region and Jeyhan and Far East. Moreover, we will use SOCAR’s opportunities in Switzerland, Africa and Jeyhan. Programs are being developed in this regard and negotiations are underway’.

SOCAR President said in initial stage Baku-Novorossiysk pipeline would pump 5 mln tonnes of oil: ‘We think agreement will be reached by the year-end’.

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THE OPERATION IS BEING PERFORMED