SOCAR, Transneft Agree on Oil Transit Tariff

MarineLink.com
Tuesday, February 25, 2014

Reuters - Azerbaijan's state energy company SOCAR agreed with Russian oil pipeline monopoly Transneft on transportation tariff at $16 per metric ton, slightly up from a previous $15.67, to be shipped via Russia in 2014, SOCAR's official said.

Adnan Ahmadzada, SOCAR's marketing and operations department head, told Reuters in an interview the tariff was fixed in Russian roubles and might change slightly depending on exchange rate fluctuations throughout the year.

He said SOCAR was ready to ship 1.0-1.5 million metric tons of oil via Russia this year, reversing plans to halt exports in mid-February.

"We also agreed that we would have an opportunity to ship additional transit volumes of oil from third parties," Ahmadzada said.

He said SOCAR had started talks with Kazakhstan and Turkmenistan on this issue.

"We can ship additional 3.5 million metric tons of oil through Baku-Novorossiisk as the pipeline's capacity is 5 million metric tons," he said.

SOCAR had planned to halt oil exports via Russia in February, opting instead to send the bulk of its crude through Baku-Tbilisi-Ceyhan pipeline and retaining some to cover rising domestic demand for oil products.

Oil exports via Russia were 1.75 million metric tons in 2013, down from 2.06 million metric tons shipped in 2012.

In May last year, Russia terminated a contract to pump Azeri oil across its territory, ending an 18-year agreement between the two countries on the grounds that Azerbaijan had not been shipping the agreed quantities.

Oil has flowed along the 1,330-kilometer pipeline from the Azeri capital of Baku on the Caspian Sea to the Russian Black Sea port of Novorossiisk since May under a separate standalone contract between Transneft and SOCAR.

(Reporting by Margarita Antidze; Editing by David Evans)

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Matson Announces Quarterly Dividend

Matson, Inc. declared a first quarter dividend of $0.17 per common share, the company’s board of directors announced. The dividend will be paid on March 5, 2015

Maintenance Woes Led to Digby Ferry Grounding

Maintenance deficiencies and inadequate emergency procedures led to November 2013 grounding of Princess of Acadia in Digby, Nova Scotia    Maintenance deficiencies

Hogan Named VP at Newport News Shipbuilding

Rob Hogan has been appointed vice president of manufacturing at the Newport News Shipbuilding division of Huntington Ingalls Industries (HII), the company announced.

Logistics

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

Shell Eyes Arctic Drilling this Summer

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

Offshore Energy

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

Shell Eyes Arctic Drilling this Summer

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

Shipping Pollution Will Skyrocket -Study

International freight volumes will grow fourfold by 2050 while the average length of haul will increase by 12 percent over that time, trends that will cause a spike

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1732 sec (6 req/sec)