SOCAR’s return on sales in Ukraine remains high
Baku, Azerbaijan, April 22
By Maksim Tsurkov - Trend:
Azerbaijan's state oil company SOCAR's return on sales in Ukraine remains at a high level despite the drop in oil prices, SOCAR's branch in Ukraine told Trend April 21.
A representative of SOCAR Ukraine company said that besides retail sales, SOCAR develops the wholesale trade, primarily LPG (liquefied natural gas).
"While converting, LPG costs a little more than 0.5 manat at SOCAR's filling stations in Ukraine," the company said. "The company plans to develop such related areas as storage of oil products, transport services, etc."
While commenting on the impact of low oil prices on SOCAR's activity in Ukraine, the company said that they have a negative impact primarily on the extraction and production of oil products.
"Falling oil prices allow increasing the volumes of wholesale and retail trade in oil products," the company said. "Despite the fall in oil prices, the return on sales in Ukraine remains at a high level."
SOCAR is the sole producer of oil products in Azerbaijan. The company also has filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
SOCAR exported 350,000 tons of oil products in January-March 2016 as compared to 348,600 tons exported in the same period 2015.
The company exported 1.23 million tons of oil products in 2015 versus 1.2 million tons exported in 2014.