Azerbaijani oil prices on rise

By Trend

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by 78 cents on August 31 compared to the previous price, reaching $72.21 per barrel, Trend reports referring to the source from the country's oil and gas market.

The price of Azeri LT FOB Ceyhan on August 31 amounted to $71.52 per barrel, having also risen by 78 cents as compared to the previous price.

Azerbaijan has been producing Azeri LT since 1997 and exporting it via the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa Western Export Pipeline, as well as by rail to the Georgian port of Batumi.

Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline.

The price of URALS with shipment from the port reached $68.67 per barrel on August 31, having grown by 64 cents as compared to the previous price.

Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea rose by 60 cents compared to the previous price and amounted to $72.41 per barrel.