Price of Azerbaijani oil decreases

  17 July 2021    Read: 335
  Price of Azerbaijani oil decreases

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by 0.89 cents on July 16 compared to the previous price, settling at $74.11 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 $73.46 per barrel on July 16, decreasing by 94 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 stood at $70.26 per barrel on July 16, having decreased by 86 cents as compared to the previous price.

Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea decreased by 90 cents compared to the previous price and reached $74.52 per barrel.


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