Markets

Azerbaijan ships 80,000 T of oil via Russia in Jan

Published February 7, 2018 Updated February 7, 2018 01:11pm

SOCAR aims to reduce its oil export volumes via Russia to 1.35 million tonnes in 2018 from 1.5 million tonnes in 2017.

Last year's rise from 1.3 million tonnes a year earlier was partly because SOCAR shipped no oil via the Baku-Novorossiisk pipeline in January and February in 2016. It resumed after signing a deal with Russian pipeline monopoly AK Transneft .

Azerbaijan sends only a small portion of its oil exports via Russia, using routes through Georgia and Turkey for the bulk of its crude shipments.

SOCAR's crude has a lower sulphur content than Russia's Urals blend. The company receives crude from Transneft to fill its loading slots at the Novorossiisk oil terminal.

 

Copyright Reuters, 2018