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Oil Price (4 June 2024)

Charles Kennedy

Azerbaijan and Kazakhstan are discussing the use of the Baku-Supsa pipeline to carry Kazakh crude, media reported, citing a statement by the Kazakh embassy in Baku.

"Currently, the parties are exploring the possibilities of further increasing volumes. Kazakhstan is also studying Azerbaijan's proposal to use the Baku-Supsa oil pipeline. Supplies in this direction will depend on commercial conditions," the embassy said, as quoted by Interfax.

Kazakhstan currently ships its crude via the Baku-Tbilisi-Ceyhan pipeline that terminates in Turkey. The oil comes on tankers across the Baltic Sea and gets loaded into the BTC pipeline in Baku. The shipments began last year and the total shipped stood at 2.057 million tons.

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