SOCAR increases oil export from Novorossiysk port by 53%

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    In January-June 2017, the State Oil Company of Azerbaijan Republic (SOCAR) has exported 733 664 tons of crude oil from Novorossiysk port (Black Sea, Russia).

    Report informs referring to SOCAR, 159 826 tons of it accounted for June.

    In the first half of the year, volume of exports of crude oil from Novorossiysk port was 53% higher than the same period in 2016. Export from this port in June was 0.16% higher compared to the same month of the previous year.

    Notably, Baku-Novorossiysk pipeline was built to transport crude oil to the Black Sea port through territory of Russia. The contract on transportation of Azerbaijani oil was signed on February 18, 1996 in Moscow. The oil pipeline began operating in October, 1996. The first supplies of oil to the world market were carried out on October 25, 1997.