No increase in oil transportation via Baku-Novorossiysk planned for 2016

The State Oil Company of Azerbaijan will maintain the volume of oil transportation via the Baku-Novorossiysk pipeline in 2016 at the level of 2015, the company’s president Rovnag Abdullayev told reporters Oct.29.

“We plan to transport around 1.5-1.6 million tons of oil via Baku-Novorossiysk,” he said.

Abdullayev noted that SOCAR intends to continue using the northern export route.

“From the economic point of view, the third route is very important,” SOCAR head said. “It is important both for us and for the Russian side, since it gets certain revenues.”

SOCAR ships its oil through the Novorossiysk port where it is delivered via the Baku-Novorossiysk oil pipeline.

/By Trend/