ECONOMY
“LUKOIL” PURCHASES OCTOBER OIL
According to SOCAR’s Marketing and Trade Operations Department, Russian “Lukoil” has purchased a batch of SOCAR’s oil to be exported through Baku-Novorossiysk pipeline as it had proved to be a tender winner for 80 thousand tons of October oil. The oil is scheduled to be loaded into tankers at Novorossiysk port in mid-October. The purchaser of the rest 140 thousand tons of oil will be announced within the next few days.
It should be reminded that American oil companies “Sempra” and “Shevron Texaco” have become winners of the tender for purchasing oil produced in September.
SOCAR plans to export 220 thousand tons of oil through the northern route in October and November. The decrease in December is caused by cold weather conditions that could impede the delivery. Besides, during wintertime, it is necessary to supply Azerbaijani oil-refining plants with more crude oil to produce mazut.
In total, SOCAR is to pump 2,5 million tons of oil through Baku-Novorossiysk pipeline for 2003. Since early 2003, 1,605 million tons of oil has been exported.