Azerbaijan stops oil exports via Russia

BAKU - Reuters

Azerbaijan plans to sell 30 million tons of oil via the Baku-Tbilisi-Ceyhan pipeline this year, before increasing the amount to 31.5 million tons by next year. DHA photo

Azeri state-run energy company Socar plans to halt its oil exports through Russia and will direct most of this oil to the Baku-Tbilisi-Ceyhan pipeline and use the remainder to meet its domestic demand. 

“Azerbaijan will stop its oil exports via the Baku-Novossiisk pipeline by next February,” one representative from the marketing department of Socar told Reuters.

“We are expecting to reach 1.8 million tons of oil exports via the Baku-Novossiisk pipeline by the year’s end. We then plan to transfer 1.5 million tons of it to the Baku-Tbilisi-Ceyhan pipeline and the remaining 300,000 tons to our domestic market,” the source said. 

Azerbaijan plans to export 30 million tons of oil via the Baku-Tbilisi-Ceyhan pipeline this year, before increasing the amount to 31.5 million tons by next year, according to the source.