Azerbaijani records rise in oil prices

  25 August 2021    Read: 436
Azerbaijani records rise in oil prices

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by $2 on August 24 compared to the previous price, settling at $70.12 per barrel, AzVision.az reports referring to the source from the country's oil and gas market. 

The price of Azeri LT FOB Ceyhan on August 24 amounted to $69.44 per barrel, up by $2 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 $66.73 per barrel on August 24, rising by $2.02 as compared to the previous price.

Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea rose by $1.95 compared to the previous price and made up $70.85 per barrel.


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