Export of Azerbaijani oil via Baku-Novorossiysk reduced by 4.6%
Edited by Rhod Mackenzie / 2013-11-05 04:58:42
Azerbaijan Oil and Gas Russia Azerbaijan Oil and Gas Baku-Makhachkala-Novorossiysk Baku-Tbilisi-Ceyhan Russia Oil and Gas Oil Pipelines Rosneft Transneft
In January-October SOCAR reduced oil exports via the Baku-Novorossiysk pipeline by 4.6% compared to 2012 – to about 1.497 million tons, the company reported on Saturday.
On May 5th the RF PM Dmitry Medvedev signed the regulation about termination of the Baku-Novorossiysk oil transit agreement between the RF and Azerbaijan. The agreement signed in 1996 presupposed the annual prolongation and possible termination from January 18th, 2014. SOCAR is going to sign the agreement with Transneft stipulating oil export on the new conditions from 2014 and continue its deliveries till the end of 2013.
In 2012 SOCAR increased export via the pipeline by 3.8% - to 2.064 million tons of oil.
