SOCAR to hike crude exports

SOCAR intends to export 250,000 tons of crude in May and 255,000 tons in June through the Baku-Novorossiysk pipeline. According to the company, initially the export of 150,000 tons was planned for May and 200,000 tons for June.

The increase will be made possible thanks to growing natural gas imports. With available gas, the demand for heating fuel will decline, which, in its turn, will make it possible to export more oil.

In 4 months of this year, SOCAR has transported around a million tons of crude to the north. If the exports constitute 250,000 tons in May and 255,000 tons in June, the half-year exports will make up around a million tons.*