Azeri oil selling for $52 above budget price
BAKU – Azerbaijani oil sold for an average of $112 a barrel in world markets in January-April, according to the state oil company Socar.
The price of oil was set at $60 in the 2011 state budget, $52 below the figure.
Azerbaijan produces most of its oil from the major Azeri-Chirag-Gunashli fields in the Caspian Sea. The Baku-Tbilisi-Ceyhan (BTC) main export pipeline, which runs through Georgia and Turkey, transports ACG oil.
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