SOCAR to transport 585,000 tons of oil this year

The State Oil Company of Azerbaijan (SOCAR) will resume oil transportation through the Baku-Novorossiysk pipeline from July 17, Deputy Chief of Public Relations, and Events Department of SOCAR Ibrahim Ahmadov told Report.

According to Ahmadov, SOCAR plans to transport 585,000 tons of oil via this pipeline by the end of the year. He recalled that over the past year, 824,000 thousand tons of Azerbaijani oil was sent to the North last year.

Notably, due to technical reasons, Baku-Novorossiysk pipeline suspended oil transportation in January.

The pipeline was built to transport crude oil to the northward. It transports crude oil to Novorossiysk Sea Port (Black Sea) through Russian territory.  

The relevant agreement was signed on February 18, 1996, in Moscow, while the first oil put on the world market on October 25, 1997.