SOCAR continues talks on oil trade in South-East Asia
Azerbaijan, Baku, September 16 / Trend , E.Ismailov /
SOCAR (State Oil Company of Azerbaijan) is continuing negotiations on the use of storage capacity of oil storage tanks in South Korea, a senior representative of SOCAR said on Sept. 16.
"Negotiations are held on the use of oil storage facilities, or trading them, and on the possible supply of our oil, later supply for wholesale or large retail in South-East Asia countries," said the representative of SOCAR.
The representative of SOCAR said that the free volume of storage capacity is limited. And in this region there are not similar storage tanks of this size.
The main goal is to maximize profits and optimize the trade, said SOCAR representative.
Formerly the same source said that if an agreement is reached on the storage of large volumes of oil, the Singapore office of trading company of SOCAR (SOCAR Trading) will independently acquire, store, distribute and sell its oil on the market of South-East Asia.
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