Georgian Oil and Gas Corporation announces auction
Tbilisi, Georgia, Jan.23
By Nana Kirtzkhalia - Trend:
The Georgian Oil and Gas Corporation has announced an auction for the sale of around 23,000 tons of crude oil. The corporation invites all interested companies to participate in the auction for the sale of 18 tons of Georgian Light oil and five tons of Georgian Heavy oil.
The participation fee for the auction is $50,000 and payment is to be made in the national currency of the lari.
The auction among the bidders will be held at a discount of $9.3 determined by the corporation and with subsequent steps at $0.2, according to the corporation.
The company which will propose that the corporation with the lower discount compared to the others will be declared the winner of the auction.
Applications for participation in the auction will be accepted until Feb.20, 2014, 15:00 (local time).
Translated by L.Z.
Edited by S.M.