On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the Light crude oil has increased $1.52 to trade at $58.58, as well price of British Brent crude oil at the London ICE (InterContinental Exchange Futures) has raised $1.20 to stand at $65.84.
The Marketing and Economic Operations Department of Azerbaijan’s state energy company SOCAR informed that, the price of a barrel of Azeri Light crude oil has increased $1.23 to trade at $66.54 in the world markets.
Much of Azerbaijan's oil is marketed by the SOCAR'S Geneva-based subsidiary SOCAR Trading, which has been operating since 2008. As the largest shareholder in ACG, BP is also a regular marketer of Azerbaijan's crude oil.
SOCAR is responsible for exploration and production of oil and natural gas in Azerbaijan, operating the country's two refineries, running the country's pipeline system, and managing the country's oil and natural gas imports and exports.
