The country's main official media organization, AZƏRTAC, announced on April 3 that the barrel of Azerbaijani oil under the "AzeriLight" brand was sold for 141.68 dollars.
Medianews.az reports that barrel means oil barrel in English and is also an ancient English unit of measurement for liquid volume.
After the oil industry was established in the USA, the barrel was accepted worldwide as the standard unit for calculating oil production, transportation, and price.
In oil trade, 1 barrel means 159 liters of oil.
For other liquids, the barrel measurement differs. For example, 1 barrel of beer is approximately equal to 119 liters.
Thus, the price of 141.68 dollars for 1 barrel of Azerbaijan's oil means the price of 159 liters of our oil is 141.68 dollars.
But when talking about the selling price of Azerbaijani oil, one point needs to be noted.
The main export point of crude oil under the "AzeriLight" brand is the Ceyhan port in Turkey. This means Azerbaijan mainly sells crude oil under the "AzeriLight" brand at the Ceyhan port.
"AzeriLight" is transported via the Baku-Tbilisi-Ceyhan pipeline and loaded onto tankers at the Ceyhan port. Until this process is completed, Azerbaijan bears all the expenses.
After the "AzeriLight" oil is loaded onto ships at Ceyhan port, ownership rights transfer to the buyer. This means all expenses related to the delivery of "AzeriLight" to the destination—for example, transportation expenses and insurance fees—are the buyer's responsibility.
On April 3, the price of 1 barrel of "AzeriLight" Azerbaijani oil, after adding such transportation and insurance costs, was 141.68 dollars.
In fact, on that day, Azerbaijan sold 1 barrel of its oil at the Ceyhan port for 135.15 dollars.
135.15 dollars, at the official exchange rate in our country, equals 229 manat 75 qəpik.
This means, on April 3, we sold 159 liters of "AzeriLight" oil at the Ceyhan port for 229 manat 75 qəpik at our local monetary value.
This means the price of 1 liter of our oil was 1 manat 44 qəpik.
To put it figuratively, one glass (200 grams) of our oil was bought at the Ceyhan port for roughly 29 qəpik (more accurately, 28.9 qəpik).
In rounded figures, on April 3, the price for 10 liters of "AzeriLight" oil was 14 manat 40 qəpik, for 100 liters was 144 manat, and for 1 ton was 1440 manat.
Toğrul Əli,
Medianews.az
