Azerbaijani oil prices increase

By Trend

The price of Azeri LT CIF Augusta produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by $4.23 on Feb. 4 compared to the previous price and amounted to $99.3 per barrel, Trend reports referring to the source in the country's oil and gas market.

The price of Azeri LT FOB Ceyhan reached $98.39 per barrel, rising by $4.23 as compared to the previous price.

Azerbaijan has been producing Azeri LT since 1997 and exporting it via the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa Western Export Pipeline, as well as by rail to the Georgian port of Batumi.

Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline.

The price of URALS with shipment from the port made up $97.37 per barrel on Feb. 4, increasing by $9.56 as compared to the previous price.

Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea has risen by $4.2 compared to the previous price and made up $97.66 per barrel.

(1 USD = 1.7 AZN on Feb. 5)