The amount of oil exported through the pipeline is about 2 million tons per year. Now the company has to redirect oil to the Caspian Pipeline Consortium pipeline.
Russian oil company Lukoil has stopped exporting from its Caspian oil fields through the Baku-Tbilisi-Ceyhan (BTC) pipeline because of Western sanctions. On Wednesday, November 30, according to Reuters.
“Russian oil is leaving BTC, the reason is the sanctions, BTC does not let Russian oil in,” the message said.
It is known that the amount of oil exported is about 2 million tons per year.
Now Lukoil will be forced to redirect the oil, which used to pass through BTC, to the pipeline of the Caspian Pipeline Consortium. In December, the company’s oil exports through this route will grow to 660,000 tons from 364 tons in November.
Remember that the EU still hasn’t agreed on a ceiling on Russian oil prices. Meanwhile, Russian oil fell below the proposed price ceiling.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.