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Azerbaijani oil prices for Dec.7-11

Azerbaijani oil prices for Dec.7-11

Date: 12 December 2015 12:52

Baku, Azerbaijan, Dec.12

By Anvar Mammadov – Trend:

The average price for AZERI LT, exported from Azerbaijan via the Turkish port of Ceyhan and Georgian Batumi and Supsa ports, was $40.74 per barrel on Dec.7-11 or $3.86 per barrel less than the previous week.

The maximum price for AZERI LT, which is produced at the Azeri-Chirag-Guneshli block of Azerbaijani fields, was $41.87 per barrel and the minimum price was $38.9 per barrel during the reporting period.

AZERI LT is delivered to Ceyhan via the BTC and to Georgia - via the Baku-Supsa pipeline, as well as by rail. In 2016 Azerbaijan plans to produce an average of 0.87 million barrels of AZERI LT per day.

The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $35.9 per barrel or $4.37 per barrel less than the previous week.

The maximum price for Urals totaled $37.23 per barrel and the minimum - $34.02 per barrel on Dec.7-11.

Azerbaijan sells oil at this Russian port, which is delivered via the Baku-Novorossiysk pipeline. In 2016, the SOCAR state company plans to pump 1.4 million tons of oil through this pipeline.

The average price for Brent Dated was $38.85 per barrel or $3.68 per barrel less than the previous week.

The maximum price for Brent was $39.77 per barrel and the minimum - $37.13 during the reporting period.

International financial institutions forecast that in 2016, the average price for Brent will be $55-$60 per barrel compared to $53-$55 per barrel in 2015.

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