Azerbaijani oil price increases

  12 May 2021    Read: 1649
  Azerbaijani oil price increases

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by 24 cents on May 11 compared to the previous price, making up $68.1 per barrel, AzVision.az reports citing the source from the country's oil and gas market.

The price of Azeri LT FOB Ceyhan amounted to $67.48 per barrel on May 11, which also decreased by 26 cents 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 settled at $66.06 per barrel on May 11, having increased by 27 cents compared to the previous price.

Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $68.91 per barrel, down by 26 cents compared to the previous price.


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