Azeri Light crude sells for $35.78
Oil prices have again changed on the world markets, with a barrel of Azeri Light crude trading at $35.78.
On the New York Stock Exchange NYMEX cost of the US Light crude oil decreased $0.72 to stand at $33.09. Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) rose $0.07 to trade at $35.73.
The average price for AZERI LT (CIF based), extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $34.59 per barrel on Jan. 25-29 or $3.99 per barrel more than the previous week.
The maximum price for AZERI LT was $35.98 per barrel and the minimum price was $32.9 per barrel during the reporting period.
SOCAR produced 8.16 million tons of oil from the country’s offshore and onshore fields in 2015, compared to 8.32 million tons in 2014.
SOCAR produces oil from offshore and onshore fields of Azerbaijan with help of its own funds. Some oil is processed at Baku’s refineries, while the other part is exported via the Baku-Novorossiysk pipeline.
Moreover, SOCAR produces light oil from Azeri-Chirag-Guneshli block of oil and gas fields jointly with foreign partners. The total volume of oil produced at this block and the fields developed independently by SOCAR, stood at 41.59 million tons in 2015 compared to 42.07 million tons in 2014.
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