SOCAR and Transneft sign new agreement on Baku-Novorossiysk pipeline

The State Oil Company of Azerbaijan (SOCAR) and Russian oil company Rosneft have signed a new agreement concerning the Baku-Novorossiysk oil pipeline, Azerbaijani news agency Trend reports.

The companies are now going to resume deliveries of Azerbaijani oil through the territory of Russia on mutually-beneficial terms, Trend cites SOCAR as saying.