From January to July 2015 State Oil Company of Azerbaijan (SOCAR) has shipped 845,757 tons of oil exported via the Baku-Novorossiysk oil pipeline, from the Novorossiysk port.
SOCAR reported that in July the volume of shipment from the Novorossiysk port totaled 167,711 tons, almost twice much, than during the same period last year.
According to Caspian Barrel, growth of oil export via the northern route in July was caused by the fact that in June 2015 SOCAR did not ship oil via Novorossiysk. In June the Heydar Aliyev oil refinery almost stood idle, because of the repair. As a result, SOCAR wanted export the entire volume, but the Russian side did not accept SOCAR’s offer, because of lack of free capacities at the Novorossiysk terminal. However, these volumes were reserved for July. In June SOCAR exported this volume to the world markets via the Baku-Tbilisi-Ceyhan (BTC) pipeline.
SOCAR reported that in July 2015 Brent oil was traded at the world markets at an average price of $56.64 per barrel, Urals oil – $55.84 per barrel and BTC FOB Ceyhan – $57.60 per barrel.
