SOCAR renews oil pumping by Baku-Novorossiysk pipeline from March 1st
Edited by Rhod Mackenzie / 2016-03-01 02:19:37
Azerbaijan Oil and Gas Russia Azerbaijan Oil and Gas Baku-Makhachkala-Novorossiysk Russia Oil and Gas Pipelines Transneft
From March 1st 2016 SOCAR renews oil pumping by the Baku-Novorossiysk pipeline, I. Demin, said.
Russia signed the agreement in December 2015 and has been waiting for SOCAR to sign the agreement.
The framework pumping volume by the agreement makes up 1.3 mln tons, that equals to the pumping volumes of past years.
Transneft pumps Azeri oil on the basis of the commercial agreement as of Feb 18th 2014 with SOCAR. The parties extended the agreement until the end of 2015. The conditions are not released.
In 2015 SOCAR shipped 1.27 mln tons of oil from the port of Novorossiysk, by 36% more than in 2014.
