Price for URALS fell below $74 per barrel
Baku, Azerbaijan. The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, amounted to $77.92 per barrel at the Italian port of Augusta on July 11, that is $2.44 less than on July 10, a source in Azerbaijan’s oil and gas market told Trend July 12.
The AZERI Light FOB Ceyhan oil price was $77.11 per barrel on July 11, or $2.53 less than the previous price.
Azerbaijan has been producing AZERI LT since 1997 and exports it via the Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines, as well as by rail to the Georgian port of Batumi.
Azerbaijan also exports URALS oil from Russia’s Black Sea port of Novorossiysk. The oil is delivered there via the Baku-Novorossiysk pipeline.
The price for URALS-NOVO was $73.33 per barrel on July 11, or $2.49 less than the previous price.
The price for a barrel of Brent Dated, produced from the North Sea, stood at $75.14 per barrel on July 11 or $2.53 less than the previous price.