Azerbaijani Oil Income in April 2015

Azerbaijani Oil Income in April 2015

Azerbaijan exported 1.705 million tons of oil in April 2015 against 1.649 million tons in March, 1.969 million tons in February and 2.121 million tons in January this year. Meanwhile, oil export via Baku-Novorossiysk reached 84,701 tons, Baku-Supsa – 254,164 tons, and Baku-Tbilisi-Ceyhan (BTC) n.a. Heydar Aliyev oil pipeline – 1.37 million tons. The SOCAR has announced that Azerbaijani oil export grew by 3.4% in April against March 2015. The SOCAR has also reported that it the oil export for 2015 still makes up 7.45 million tons. This year 508,486 tons were delivered to Novorossiysk, 1.016 million tons to Supsa, and 5.925 million to Ceyhan. It should be noted here that the SOCAR exports both its own oil and oil falling on the share of the government within PSA contracts.

The cost of a barrel of BTC FOB Ceyhan in April 2015 was $61.42. At that, the cost of a barrel of Russian oil mixture Urals (REBCO) was $60 and Brent grade – $59.76.

CESD reports that one of the main reasons of increasing of Azeri oil export is the higher crude oil price in the world market starting late April 2015. SOCAR targets compensating potential losses from lower oil price in previous months with comparatively higher price since last month…

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