Vitol and SOCAR signed an agreement for the supply of Turkmen oil
International trading firm Vitol and Azerbaijan's state-owned company SOCAR have agreed to transport about 1 million tons of Turkmen oil per year via the Baku-Tbilisi-Ceyhan (BTC) pipeline. The beginning of the implementation of the agreement is scheduled for early October this year.
As the newspaper notes, the oil purchased from Turkmenistan was previously transported by tankers through the river and sea ports of the Russian Federation to Novosibirsk, and then by an oil pipeline. Now the volume of transportation of raw materials by the Swiss-Dutch company Vitol along this route can be halved, amounting to 80 tons per month.
Vitol is one of the world leaders in the trading of hydrocarbon raw materials. It supplies Turkmen "black gold" in volumes that it purchases from ENOC in the UAE under fixed-term contracts.
Azerbaijani SOCAR previously stated that it seeks to increase oil supplies via the Baku-Tbilisi-Ceyhan pipeline by attracting a large number of companies from Russia and Turkmenistan.
It should be noted that trading oil companies, when buying and selling, take into account the quality of the purchased raw materials and economical transportation routes. Turkmen "earth oil" - oil, is famous for having a low sulfur content.