SOCAR increases oil exports by 75% via Baku-Novorossiysk pipeline

The State Oil Company of Azerbaijan (SOCAR) exported 922,700 tons of oil via the Baku-Novorossiysk oil pipeline in January-November 2021, Report informs, citing the Central Dispatch Center of the Fuel and Energy Complex of the Russian Energy Ministry.

SOCAR transported 922,700 tons of oil from Azerbaijan to the port of Novorossiysk through the system of the Russian company Transneft for 11 months of 2021, 74.6% more than in January-November 2020.

According to the report, 84,760 tons of Azerbaijani oil was transported via this pipeline in November alone.

SOCAR and Transneft have signed an agreement to transport over 1 million tons of oil through the Baku-Novorossiysk pipeline in 2021. In 2020, SOCAR transported a total of 613,290 tons of oil through this pipeline.