ECONOMY


SOCAR ANNOUNCES TWO OIL TENDERS FOR AUGUST

Azerbaijan State Oil Company announced late Monday two crude oil tenders.One tender will be for 1 million of Azeri Light crude to be lifted from the port of Supsa in Georgia. The winner will be determined within the next week, a SOCAR spokesmen said, adding that this is SOCAR’s fifth such shipment. IT is to be lifted at the end of August.The oil is produced by the Azeri-Chirag-Guneshli (ACG) project in which SOCAR hold 10 percent. The other tender is for the sale of 140,000 metric tones of oil to be lifted from the Russian port of Novorossiysk at the end of August.The following is the schedule of SOCAR Azeri Light crude loaded at Supsa since the beginning of 2003 (each shipment is 1 million barrels).

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