PremiumSchedule of oil shipment from Novorossiysk port for March

Baku, Azerbaijan, March 7

By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan is expected to ship 80,000 tons of oil from the Russian port of Novorossiysk in March 2015.

Shipment of these volumes will be made in one batch.

In total, some 3.04 million tons of oil will be shipped from the Novorossiysk port in March.

SOCAR delivers the oil produced at its own fields, as well as the oil of joint ventures and operation companies operating at Azerbaijan's onshore fields to Novorossiysk. Oil is delivered to the port via the Baku-Novorossiysk pipeline operated by SOCAR.

SOCAR exported 1.27 million tons via the Baku-Novorossiysk pipeline in 2015 compared to 932,160 tons exported in 2014. SOCAR distributed the export volumes between the Baku-Novorossiysk oil pipeline (1.27 million tons) and the Baku-Tbilisi-Ceyhan oil pipeline (460,000 tons) in 2015.

SOCAR and Russian Transneft signed a new agreement on oil transportation via the Baku-Novorossiysk pipeline in February 2016. For 2016, the parties agreed that SOCAR will transport 1.3 million tons of oil via the Baku-Novorossiysk pipeline.

SOCAR has been operating Baku-Novorossiysk pipeline since 2008. The company took over the operatorship from Azerbaijan International Operating Company (AIOC - headed by BP).

The schedule of oil shipment from the Novorossiysk port for March has been provided by the Energy Intelligence Group agency.