Azeri oil market: results of the week

In the period from the 10 to 14 of October average price for URAL(EX-NOVO), sold by Azerbaijan in the port Novorossiysk stayed at $55.08 per barrel dropping $0.42 per barrel in comparison with the last week.

Maximal price for URAL(EX-NOVO) reached $56.38 on October 12, while minimal was observed on October 10 and was $53.94 per barrel.
Brent average price (DTD) was $58.62 per barrel (dropped $0.41 per barrel). Brent maximal price comprised $59.99 on October 13, minimal one - $56.70 on October 10.

Azerbaijan supposes to sell 800,000 tons of URAL oil from Novorossiysk port in the period from November to December. A total of 640,000 tons belongs to the Azerbaijan International Operator Company (AIOC), two consignments per 80,000 - to the State Oil Company of Azerbaijan (SOCAR).

From January to September the SOCAR shipped 1,298m tons of URAL oil from Novorossiysk that means 689 thousands tons less than in 2004. The AIOC shipped 1,683 tons of URAL oil over this period. The SOCAR will sell around 227,000 tons oil from Novorossiysk for Mercuria Energy Trading (142,000 tons) and Vitol (85,000 tons).