Price of Azerbaijani oil is approaching $ 70

The price of Azerbaijani light oil produced from the Azeri-Chirag-Guneshli (ACG) block of fields based on CIF in the Italian port of Augusta was $ 69.72 per barrel on March 11, which is $ 2.12 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 Azeri Light price was $ 68.88 per barrel, or $ 2.07 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 (unloaded from the port) was $ 66.52 per barrel, which is $ 2.16 more than the previous figure.

The price of a barrel of Brent Dated, produced in the North Sea, was $ 69.16 on March 11, up $ 2.40 from the previous price.