Azerbaijan, Baku, Dec. 13 /Trend A.Badalova/
Socar Trading, which is a subdivision of the State Oil Company of Azerbaijan (SOCAR), will continue its expansion in 2012, focusing on Europe, Africa, the Middle East and Asia regions, the company's official told Trend.
"Our expansion continues, focusing mainly on Europe, Africa, the Middle East and Asia still, as it is in these markets that we see thr most opportunity at present to build increasingly strong positions," the head of Corporate Economics in SOCAR Trading Gunter Seymus told Trend via e-mail.
Socar Trading is marketing about 80 percent of Azeri Light crude from the block of Azeri-Chirag-Guneshli fields in the Azerbaijani section of the Caspian Sea.
The company has made its office in Singapore fully responsible for the development of trade with crude oil in Asia, including increasing its market share at the expense of long-term contracts.
Seymus said that during 2011 SOCAR Trading has continued to grow fast and has further consolidated its position and presence in global trading markets, achieving significant further progress towards its main goals.
These goals include the optimisation of SOCAR system crude marketing, diversifying into third-party volume trading, and assisting the SOCAR group in its international expansion strategy.