Baku, Azerbaijan, Oct. 3
By Maksim Tsurkov - Trend:
SOCAR Trading, the Azerbaijani trading company, owned by SOCAR (State Oil Company of Azerbaijan) is considering a draft of granting the rights to pump oil to one of the terminals in Russia, Farid Jafarov, Director General of SOCAR Rus, said in an interview published in the Kommersant Vlast magazine.
He said that the matter rests in a large terminal in the North-West of Russia.
"The transshipment capacity in the Baltic Sea will be managed and provided with volumes of light oil products on the conditions of a joint venture with a Russian company," he said. "As an international trader, SOCAR Trading will support the trade operations with the Russian oil products on the international markets."
SOCAR Trading with headquarters in Geneva was created at the end of 2007 by the State Oil Company of Azerbaijan (SOCAR).
SOCAR Trading sells the main part of crude export volumes from the Ceyhan port (The Mediterranean Sea, Turkey), carries out trading of oil and oil products of other countries, and also renders assistance to the parent company with the international investments. The field of activity of SOCAR Trading covers the countries of Europe, Asia and America. The company has representative offices in the USA, Turkey, the United Arab Emirates, Egypt, Singapore and in other countries.
According to the reports of the experts of the BCG and Wood Mackenzie consulting companies, additional $1.7-1.8 billion were obtained from the sale of Azerbaijani oil as a result of the appearance of SOCAR Trading on the market and its effective marketing activity in 2008-2013. In general, this increased Azeri Light premium.
Moreover, SOCAR Trading's development of the trading business with the third parties and revenue growth related to transit through the Baku-Tbilisi Ceyhan pipeline brought additional $ 500 million net profit to Azerbaijan.
Edited by CN
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