Azerbaijan to increase oil transportation through Russia

In 2017, SOCAR plans to export about 1.5 million tons of oil through Russia, while in 2016 this figure is expected to reach 1.3 million tons.

Azerbaijan’s State Oil Company SOCAR and Russia’s Transneft have agreed on volumes of oil transportation via the Baku-Novorossiysk pipeline for 2017, a source in SOCAR reported.

"Until the end of 2016, SOCAR will transport another 80,000 tons of oil via the Baku-Novorossiysk pipeline, and after that, the whole plan of oil volume for this year will be carried out. In 2017, it is planned to increase the volume of pumping to 1.5 million tons of oil, 325,000 tons of which are planned to be pumped in the first quarter of 2017," Trend cited the source as saying.