SOCAR increases oil exports via Russia in Jan-Sept

09:00 | 05.10.2015
SOCAR increases oil exports via Russia in Jan-Sept

SOCAR increases oil exports via Russia in Jan-Sept

Azerbaijan's SOCAR shipped 1.14 million tonnes of oil via Russia in the first nine months of 2015, up from 762,582 tonnes in the same period last year, the state energy company said.

SOCAR said in January that it had signed a one-year contract with Russian oil pipeline operator Transneft <TRNF_p.MM> to transport 1.7 million tonnes of oil through the Baku-Novorossiisk pipeline, up from 1.02 million tonnes in 2014. 

SOCAR had planned to halt oil exports via Russia in February 2014, opting instead to send the bulk of its crude through the Baku-Tbilisi-Ceyhan pipeline and retaining some to cover rising domestic demand for oil products. 

The company reversed its plans later that month.

Oil exports via Russia for the whole of 2013 totalled 1.75 million tonnes, down from 2.06 million in 2012.


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