Azerbaijani oil prices decline

By Trend

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, dropped by $2.06 on May 13 compared to the previous price, settling at $67.36 per barrel, Trend reports referring to the source from the country's oil and gas market.

The price of Azeri LT FOB Ceyhan amounted to $66.74 per barrel on May 13, decreasing by $2.04 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.