GeriGündem Azerbaijan's Socar declares force majeure on 3 export cargoes
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Azerbaijan's Socar declares force majeure on 3 export cargoes

Azeri state oil firm Socar has declared force majeure on three crude export cargoes it had sold to traders Sumato and Glencore after BP cut oil output at a major Azeri deposit, a Socar source said on Wednesday.

"We have declared force majeure on the contracts with the delivery up to the first half of October," the source told Reuters.

He added that the contracts included two Azeri Light crude cargoes, 1 million barrels each, bought by Sumato. The cargoes were supposed to load from the Turkish Mediterranean port of Ceyhan on Sept. 27-28 and Oct. 1-2, respectively.

The third 1 million barrel cargo, bought by Glencore, was planned to load from Ceyhan before Oct.15.

BP last week halved production at the Azeri-Chirag-Guneshli (ACG) group of fields, which it is developing jointly with Socar, due to a gas leak.

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