Baku, Azerbaijan, Aug. 3
By Ilkin Shafiyev – Trend:
Ukrtransnafta PJSC (operator of the oil transportation system of Ukraine) has sold another 5,000 tons of Azerbaijani oil of Azeri Light grade on e-trading at the Ukrainian Energy Exchange platform, the exchange said in a statement Aug. 3.
The oil was offered from the tanks of the Yuzhny offshore oil terminal.
Trading in oil by "Ukrtransnafta" PJSC is conducted in the mode of differentials. The price is determined by the quotes of Azeri Lt FOB 80KT of Platts Agency minus the costs of transshipment to offshore oil terminal (OOT) ($1 per ton).
Ukrtransnafta PJSC has sold on the exchange 40,000 tons of oil of this brand from Yuzhny offshore oil terminal as of now. Some 35,000 tons were purchased by Privat Group, 5,000 tons – by Ukrgazdobycha PJSC.
Last year, Ukrtransnafta company resumed operation of the section of the oil pipeline from Odessa to Kremenchug and began to deliver Azeri Light oil to the Kremenchug refinery. Kremenchug refinery has been processing Azeri Light since December 2016, but earlier oil was supplied to the factory by rail.
The oil of Azeri Light grade is produced at Azeri-Chirag-Guneshli block of fields in Azerbaijan. Azerbaijan has produced seven million tons of light oil in 1Q2018, which roughly corresponds to the level of production at the block in the first quarter of last year.
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