There will be no oil shipments from Baku to Novorossiysk in June

Baku/11.06.22/Turan: The State Oil Company of Azerbaijan (SOCAR) decided to send in June  its oil (non-contractual, extracted independently from old fields) via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline with shipment to the Mediterranean Sea against the traditional Northern route (Baku- Novorossiysk).

Earlier, 85,000 tons of oil were planned to be shipped through the Russian Federation in June, however, for commercial reasons, this consignment of oil (one tanker shipment) was redirected to BTC.

Telling Turan about this, a source in SOCAR recalled that since May, the state-owned company has stopped using the Baku-Novorossiysk oil pipeline (a Russian port on the Black Sea) and has already transported 170,000 tons of oil from old fields through the BTC, which were previously intended for shipment in the port of Novorossiysk. The same operation will take place in June.

The decision is related to a difficult situation in which tanker transportation of "black gold" from the Black Sea ports may fall under international sanctions imposed on the Russian Federation due to its invasion of Ukraine, or this oil is traded at a discount (minus $ 20-40 / barrel compared to the reference Brent).

Earlier, Turan learned that an international consortium led by BP, which is developing the Azeri-Chirag-Guneshli block of the Caspian fields, in June, as well as in May, does not transport oil (about 90 thousand b/d) through the Baku-Supsa oil pipeline (Georgian port in the Black Sea) due to the unresolved Russian-Ukrainian conflict and the difficult situation in the Black Sea basin.

Thus, since May, the daily pumping of oil through the BTC, after the transfer of volumes from Novorossiysk and Supsa, has reached a level of about 700 thousand bpd.

Shipment of this oil is carried out in Ceyhan (a Turkish port on the Mediterranean Sea), where the price of oil is high and it is in demand.—0—