December 7, 2017 / 10:29 AM / a year ago

Azerbaijan's oil shipments via Russia jump 24 pct in Jan-Nov

BAKU, Dec 7 (Reuters) - Azerbaijan’s oil shipments via Russia jumped by nearly a quarter to 1.407 million tonnes in January-November, state energy company SOCAR said on Thursday.

The increase, from 1.137 million tonnes a year earlier, was partly because SOCAR shipped no oil via the Baku-Novorossiisk pipeline in January and February last year. It resumed shipments after signing an agreement with Russian pipeline monopoly AK Transneft.

SOCAR aims to increase its shipments via Russia to 1.5 million tonnes this year, but to reduce export volumes to 1.35 million tonnes in 2018. Last year it shipped 1.2 million tonnes, down 4.8 percent from 2015.

Azerbaijan sends only a small portion of its oil exports via Russia, using routes through Georgia and Turkey for the bulk of its crude shipments.

SOCAR’s crude has a lower sulphur content than Russia’s Urals blend. The company receives crude from Transneft to fill its loading slots at the Novorossiisk oil terminal. (Reporting by Nailia Bagirova; Writing by Margarita Antidze; Editing by Susan Fenton)

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