For the first time since launching of the Baku-Novorossiysk oil pipeline Azerbaijan has pumped less than 1 million tons of oil via it (not considering disturbances in 1999-2000 through Russia’s fault).
According to the official information of press office of the State Oil Company of Azerbaijan (SOCAR), in 2014 it shipped 932,155 tons from the Novorossiysk port, which was exported via the Baku-Novorossiysk oil pipeline. Oil shipment from the Russian port decreased by 46.8% against 2013.
In 2014 SOCAR planned to pump 85,000 tons of oil a month via the Baku-Novorossiysk pipeline (1,020,000 tons a year).
Why does the volume of export via the northern route keep on going down? Usually oil of SOCAR and the operation companies, which extract oil onshore of Azerbaijan, is exported via the Baku-Novorossiysk pipeline. Last year consumption of fuel, especially gasoline, sharply increased at the local market. Therefore, SOCAR was forced to increase the volume of refining and decrease export.
Judging by all, in the near future Azerbaijan will, possibly, no longer have need in the Baku-Novorossisk pipeline, because dynamics of the local oil products market shows constant growth.—0—
Economics
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