SOCAR increases oil export via Baku-Novorossiysk 17 times

The State Oil Company of Azerbaijan (SOCAR) exported 498,550 tons of oil via the Baku-Novorossiysk oil pipeline from January through June 2021, according to the operational summary of the Central Dispatching Office of the Fuel and Energy Complex of the Russian Energy Ministry, Report informs referring to Interfax.

Some 498,550 tons of oil were transited from Azerbaijan to the Novorossiysk port in the first half of 2021 via the system of the Transneft company. At the same time, in June, oil exports via this route amounted to 84,900 tons.

Compared to January-June last year, the volume of Azerbaijani oil exports via the Baku-Novorossiysk pipeline increased 16.9 times.

At the end of January, Transneft and SOCAR signed an agreement for pumping more than 1 million tons of oil through the Baku-Novorossiysk oil pipeline in 2021. SOCAR exported 613,290 tons of oil via the Baku-Novorossiysk oil pipeline in 2020.