Baku, Azerbaijan, Feb. 24
By Maksim Tsurkov - Trend:
SOCAR Trading, a trading arm of SOCAR (State Oil Company of the Republic of Azerbaijan), plans to open an office in the US city of Houston, Arzu Azimov, SOCAR Trading chief executive officer, said in an interview with Reuters.
The office will be opened to trade and arbitrage oil and products in and out of the US, he said. It already has a business unit in Canada's city of Calgary, where it is actively exploring trading opportunities between the US and Canada, according to Azimov.
SOCAR Trading, with headquarters in Geneva, was created in late 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.
Follow the author on Twitter: @MaksimTsurkov