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SOCAR enters EU oil product retail market

Oil&Gas Materials 14 December 2010 12:16 (UTC +04:00)

Azerbaijan, Baku, Dec.14 / Trend E. Ismayilov /

The State Oil Company of the Azerbaijan Republic (SOCAR) is preparing an oil product distribution pilot project for Romania's domestic market, a senior SOCAR official told Trend.

According to the source, the project envisages the rebranding of 16 gas stations.

Specifically, the project would cover select Romanian regions.

"We see this as a pilot project, and studies have shown that the margin of distribution is attractive enough," the source said.

Regarding the source of the products that could be sold on the Romanian market, the SOCAR official said everything depends on economic reasonability.

He added that a contract has not yet been signed under the project. It is still under preparation. To assess the project's feasibility, the source stressed, a well-known auditing company has been contracted to research the project plans.

SOCAR owns a chain of gas stations in Azerbaijan, Georgia and Ukraine.

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