Azernews.Az

The price of oil rose in the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $0.31 to stand at $37.16. Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) rose $0.69 to trade at $37.35.

SOCAR Marketing and Economic Operations Department reported that the price of a barrel of Azeri Light crude oil increased $0.18 to stand at $38.23 on the world markets.

Azerbaijan produces Azeri Light since 1997 and exports it via Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines, as well as by rail to the Georgian port of Batumi.

Azerbaijan also exports URALS oil from Russia’s Black Sea port of Novorossiysk. The oil is delivered there via the Baku-Novorossiysk pipeline. The price for URALS-NOVO was $33.36 per barrel, or $0.56 more than the previous price.

Azerbaijan has produced 38.32 million tons of oil and gas condensate in January-November 2015, or 0.5 percent less than in the same period in 2014, the State Statistical Committee reported.

This is while 41.9 million tons of oil and gas condensate was produced in Azerbaijan in 2014, compared to 43.1 million tons in 2013.

The major part of oil production accounts for the Azeri-Chirag-Guneshli block of oil and gas fields and Shah Deniz gas and condensate field which are developed jointly with foreign partners.

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