Baku, Azerbaijan, Feb. 3
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan (SOCAR) exported 169,510 metric tons of oil via the Baku-Novorossiysk pipeline in January 2015 compared to 84,740 metric tons in January 2014, SOCAR said Feb. 2.
SOCAR exported 932,160 metric tons of oil from Novorossiysk in 2014 compared to 1.75 million metric tons in 2013.
SOCAR transships the oil produced at its own fields, as well as the oil of joint ventures and operation companies operating at Azerbaijan's onshore fields through Novorossiysk. Oil is delivered to the port via the Baku-Novorossiysk pipeline operated by SOCAR.
Earlier, the Russian side decided to terminate the intergovernmental agreement on the supply of oil via the Baku-Novorossiysk pipeline.
Nevertheless, it was stated that there was opportunity for further negotiations with the Russian side on the operation of this pipeline, in particular in the opposite direction.
However, SOCAR and Russian Transneft signed a new agreement for the period of one year on oil transportation via the Baku-Novorossiysk pipeline, in accordance to which, the oil transportation via the Baku-Novorossiysk pipeline was restored.
Edited by CN
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