Prices of Azerbaijani oil modestly grow

13 June 2020 14:02 (UTC+04:00)

By  Trend

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by 4 cents on June 12 compared to the previous price, reaching $40.37 per barrel, Trend reports with reference to the source from the country's oil and gas market.

The price of Azeri LT FOB Ceyhan made up $39.82 per barrel on June 12, which is also 4 cents more compared to the previous price.

Azerbaijan has been producing Azeri LT since 1997 and exporting it via the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa Western Export Pipeline, as well as by rail to the Georgian port of Batumi.

Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline.

The price of URALS with shipment from the port amounted to $39.82 per barrel on June 12, which is 6 cent less compared to the previous price.

The cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $38.64 per barrel, indicating a growth of 25 cent.

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