Price of Azerbaijani Oil Ends the Week Above $76/barrel
The price of a barrel of Azerbaijani oil, Azeri Light, was sold for $76.63 based on CIF contracts on the last day of the past week.
The average price of Azeri Light oil under CIF contracts increased by $0.25 compared to the previous week, reaching $75.67 per barrel. The maximum price during this period was $76.63 per barrel, while the minimum was $74.31 per barrel.
Last week, the average price of Azeri Light oil under FOB contracts at the Turkish port of Ceyhan was $74.17 per barrel, which was $0.30 higher. The maximum price reached $75.16 per barrel, while the minimum was $72.78 per barrel.
Energy
-
BP hopes that its participation in the development of the "Karabakh" oil field and the "Ashrafi-Dan Ulduzu and Aypara" (ADUA) structures in the Azerbaijani sector of the Caspian Sea will be an opportunity to implement international standards within these projects.
-
Established in 1999, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) currently holds assets exceeding $60 billion, which is roughly 80% of the country’s economy, SOFAZ’s Executive Director Israfil Mamedov said at the annual meeting dedicated to the 25th anniversary of the Oil Fund’s establishment. He noted that the revenue from managing SOFAZ’s assets has already surpassed $15 billion.
-
Azerbaijan is expected to supply Bulgaria with 2 bcm of gas in 2024, Azerbaijan’s Ambassador to Bulgaria, Huseyn Huseynov, stated in an interview with Euronews Bulgaria. The diplomat emphasized that energy is one of the priority areas in bilateral relations between Baku and Sofia.
-
Kazakhstan plans to increase the volume of oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline, Azerbaijan’s Ambassador to Kazakhstan, Agalar Atamoglanov stated. According to him, Azerbaijan and Kazakhstan, as traditional energy exporters, are actively developing cooperation in this field.
Leave a review