Azerbaijan sees increase in oil price 

  30 August 2020    Read: 1054
Azerbaijan sees increase in oil price 

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Gunashli (ACG) field, increased by 14 cents on August 28 compared to the previous price, resulting in $45.85 per barrel, according to a source from the country's oil and gas market.

The price of Azeri LT FOB Ceyhan amounted to $45.31 per barrel on August 28, which is 14 cents more 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 made up $44.37 per barrel on August 28, having increased by 27 cents.

The cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $44.88 per barrel, increasing by 0.6 cents compared to the previous price.

(1 USD = 1.7 AZN on Aug. 30)


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