Azerbaijani Economy 10 june — 10:56

Azerbaijani oil price exceeded $73

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The cost of Azerbaijani light oil, produced at the Azeri-Chirag-Guneshli (ACG) block of fields, based on CIF in the Italian port of Augusta on June 9 was $73.17 per barrel, which is 52 cents more than the previous indicator, Trend reports citing a source in the country's oil and gas market.

On the FOB basis in the Turkish port of Ceyhan, the price for Azeri Light was $72.54 per barrel, which is 52 cents more than the previous indicator.

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 $69.2 per barrel, having increased by 46 cents against the previous indicator.

The price for a barrel of Brent Dated, produced from the North Sea, was $71.39 on June 9, up 47 cents from the previous price.

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