UPDATE 1-BP cuts Azeri oil output after BTC line blast-trade

LONDON, Aug 8 (Reuters) - BP Plc has cut oil output by at least 400,000 barrels per day (bpd) at the Azeri-Chirag Gunashli oilfields after an explosion on the Baku-Tbilisi-Ceyhan pipeline, trade sources said on Friday. A source at an equity holder in the Caspian Sea fields, which BP operates, said production was cut to 250,000 bpd from 850,000 bpd before Tuesday night's blast. Two trade sources put the supply loss at about 400,000 bpd. BP says it is looking to maximise exports from other routes, such as through Novorossiisk in Russia, the Georgian port of Supsa or by rail to Batumi, also in Georgia, meaning that some supplies will continue. "I think they will pump extra through Supsa and try to maximise barrels out of Batumi," said a trader. Up to 150,000 bpd can go through Supsa and around 300,000 bpd to Batumi,... [read full story]