Socar starts shipping extra volumes of oil via BTC

Azerbaijan’s state oil company Socar started shipping additional volumes of crude oil via the Baku-Tbilisi-Ceyhan pipeline after exports were stopped through the Baku-Novorossiysk link.

Russian Prime Minister Dmitriy Medvedev decreed in May to terminate the 1996 agreement with Azerbaijan on oil deliveries via Baku-Novorossiysk after Socar reduced the volumes of crude.

Socar said it was still in talks with Transneft to sign a new agreement to resume supplies via the 1,330 kilometer pipeline.