Oil Exportation from Azerbaijan

Azerbaijan exported 7 million 391 thousand 680 tons of crude oil (15% above figures of the same period of 2002), sources in SOCAR told Turan news agency. Of this total 5 million 238 thousand tons of oil (Azeri Lights) falls at the Azerbaijan International Operating Company (AIOC, producing from offshore field Chirag). This is 25.7% above figures of the same period of last year. Azeri Lights oil is exported only through Baku-Supsa oil pipeline. Azeri Lights world prices are USD 0.15-20 per barrel higher than of North Sea oil Brent. SOCAR and subsidiaries (joint ventures and operating companies operating onshore Azerbaijan) exported 2 million 153 thousand 680 tons of oil during the reported period (4.6% lower than figures of the same period of last year). It should be noted that Azerbaijani oil exported through the Northern route pipeline was mixed in Tikhoretsk, Russia with Siberian oil and therefore sold at the world markets under the brand of Urals (USD 0.20-0.30 cheaper than Brent). SOCAR plans to export 2.5 million tons of oil, AIOC - up to 6.5 million in 2003.