Azerbaijani oil prices increase

Wed 15 May 2019 07:48 GMT | 11:48 Local Time

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The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $74.67 per barrel at Italian port of Augusta on May 14, which is $0.43 more than on May 13, a source representing Azerbaijan's oil and gas market told Trend on May 15.

On May 14, the AZERI Light FOB Ceyhan oil price was $73.88 per barrel, or $0.46 more than the previous price.

Azerbaijan has been producing AZERI LT since 1997 and exports it via the Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines and by rail to the Georgian port of Batumi. Azerbaijan also exports URALS oil from Russia’s Black Sea port of Novorossiysk. The oil is delivered there via the Baku-Novorossiysk pipeline.

The price for URALS-NOVO with shipment from port was $71.44 per barrel on May 14, or $0.63 less than the previous price.

The price for a barrel of Brent Dated, produced from the North Sea, stood at $72.65 on May 14, or $0.32 more than the previous price.

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