North-bound flow of Azeri oil suspended
The flow of Azerbaijan`s oil through the Baku-Novorossiysk northern
route pipeline has been suspended.
Energy giant Transneft, which operates the Russian stretch of the conduit, sent a relevant notification to Azerbaijani state oil company SOCAR on Monday. It said the measure was due to "planned technical servicing" in the northern Caucasus region.
It is unknown, at this point, when north-bound oil flow will be resumed.
The BP-operated consortium operating the Azeri-Chirag-Gunashli (ACG) fields in the Azerbaijan sector of the Caspian Sea, Azerbaijan International Operating Company (AIOC), has barely used the northern route to export oil, as the Baku-Tbilisi-Ceyhan (BTC) main export pipeline is considered more lucrative both for commercial and technical considerations. SOCAR was exporting 1 million tons of oil a year via the route. But after an explosion rocked the Turkish section of the BTC pipeline last Wednesday, AIOC started exporting oil via Baku-Novorossiysk again. 10,000 to 11,000 tons of oil a day were being pumped through the pipeline.
Oil flow through the BTC pipeline was suspended after the blast.
Energy giant Transneft, which operates the Russian stretch of the conduit, sent a relevant notification to Azerbaijani state oil company SOCAR on Monday. It said the measure was due to "planned technical servicing" in the northern Caucasus region.
It is unknown, at this point, when north-bound oil flow will be resumed.
The BP-operated consortium operating the Azeri-Chirag-Gunashli (ACG) fields in the Azerbaijan sector of the Caspian Sea, Azerbaijan International Operating Company (AIOC), has barely used the northern route to export oil, as the Baku-Tbilisi-Ceyhan (BTC) main export pipeline is considered more lucrative both for commercial and technical considerations. SOCAR was exporting 1 million tons of oil a year via the route. But after an explosion rocked the Turkish section of the BTC pipeline last Wednesday, AIOC started exporting oil via Baku-Novorossiysk again. 10,000 to 11,000 tons of oil a day were being pumped through the pipeline.
Oil flow through the BTC pipeline was suspended after the blast.
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