‘Transportation of oil via the Baku-Novorossiysk pipeline is not profitable

‘Transportation of oil via the Baku-Novorossiysk pipeline is not profitable’ Deputy Head, Head of Foreign Relations Department of the Azerbaijani Presidential Administration Novruz Mammadov has given an interview to 1news.az. In the interview, the official touched upon the termination of the agreement between Russia and Azerbaijan on the transit of Azerbaijani oil through Russia via the Baku-Novorossiysk pipeline. “Much has been... Read More

Azeri Oil Price drops 15 % in the world market

Azeri Oil Price drops 15 % in the world market The cost of a barrel of BTC FOB Ceyhan on the world market made $96.59 in June. This constitutes a drop of $15.96 over May. The statement came from sources in the State Oil Company of Azerbaijan. The cost of a barrel of Brent crude on the world market made $94.84 (against $110.2 in May). Urals oil was sold for $93.49 per barrel, which is a drop of $16 over may. Azerbaijani oil transported by the BTC... Read More

Oil Contributes 87,0 % of Total Export in Azerbaijan

Oil Contributes 87,0 % of Total Export in Azerbaijan The share of crude oil in Azerbaijan’s overall export made up 86.29% against 86.62% in 2011, 86.53% in 2010 and 81.57% in 2009. In the first quarter of 2012 oil export grew by 6.76% versus last year’s same term. The State Customs Committee (SCC) informs that for Jan-Apr 2012 the country’s oil export reached 12.086 million tons (5.989 million tons in April is still the best index of the year)... Read More