Azerbaijani Economy 14 january — 10:51

Azerbaijani oil price exceeds $56 per barrel

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BY INFORMATION SECTION

The price of Azerbaijani light oil produced at the Azeri-Chirag-Guneshli (ACG) block of fields based on CIF in the Italian port of Augusta was $56.57 per barrel on January 13, which is $0.25 less than the previous indicator, sources in the country's oil and gas market say.

On the FOB basis in the Turkish port of Ceyhan, the Azeri Light price was $56.01 per barrel, or $0.25 less than the previous figure. Azerbaijan has been producing Azeri Light since 1997 and exporting it via the Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines, as well as by rail to the Georgian port of Batumi.

Azerbaijan also sells URALS oil from the Russian Black Sea port of Novorossiysk, delivering raw materials via the Baku-Novorossiysk pipeline. The price of URALS (ex-export) was $54.68 per barrel, or $0.14 less than the previous figure.

The price of a barrel of Brent Dated, produced from the North Sea, was $55.86 on Jan.13, down $ 0.26 from the previous price.

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