Azerbaijani oil prices down

By  Trend

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $67.09 per barrel at Italian port of Augusta on May 31, which is $2.66 less than on May 30, a source in Azerbaijan's oil and gas market told Trend on June 1.

On May 31, the AZERI Light FOB Ceyhan oil price was $66.34 per barrel, or $2.61 less than the previous price.

Azerbaijan has been producing AZERI LT since 1997 and exports it via the Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines and 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 with shipment from port was $63.69 per barrel on May 31, or $2.58 less than the previous price.

The price for a barrel of Brent Dated, produced from the North Sea, stood at $65.61 on May 31, or $2.55 less than the previous price.

($1=1.7 AZN on June 1)