Economic Calendar

Monday, September 8, 2008

BP's BTC Crude Oil Pipeline Will Export 35 Cargoes in October

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By Alexander Kwiatkowski

Sept. 8 (Bloomberg) -- Shipments of Azeri crude via the Baku-Tbilisi-Ceyhan pipeline will total 28.6 million barrels in October, the highest in at least 10 months.

Thirty-five cargoes, or an average of 922,581 barrels a day, will be exported next month, according to a revised loading schedule. That's the highest daily average since at least January, according to calculations based on Bloomberg data.

The pipeline, which transports oil from Azerbaijan through Georgia to Turkey's Mediterranean coast, was shut on Aug. 5 after a fire on the Turkish part of the link. Shipments resumed on Aug. 25.

As a result of the closure, some August shipments were delayed to September, with a total of about 30 million barrels scheduled to load between Aug. 25 and Sept. 30, according to previously-revised schedules.

To contact the reporter on this story: Alexander Kwiatkowski in London at akwiatkowsk2@bloomberg.net


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