Wednesday, 2 March 2011
Caspian: Kulevi volumes double
Among the two main users are Ocean Energy, the trading arm of Dubai-based Middle East, and Sumato Energy, which last year began exporting gas oil produced by Socar from its two Baku refineries. Rival port Batumi, which is 100 per cent owned by Kazmunaigas, is suffering a further drop in throughput as Kulevi prospers; in January, the terminal transhipped 453,000 tons of crude and products, which represents a year-on-year drop of more than 20 per cent, with exports in February dropping even lower to just 360,000 tons.
Batumi is fast losing its status as an oil products outlet, handling mostly crude oil from Kazakhstan – mostly from TCO and Geneva based trader Euro Asian – plus Azeri Light brought in by rail from ExxonMobil. Most of the transportation to Batumi is handled by the terminal's marketing arm Petrotrans.
For more news and expert analysis about the Caspian region, please see Caspian Focus.
© 2011 Menas Associates