SOCAR to take up to 10% of Romanian energy market
Baku, Azerbaijan, Nov. 12
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR plans to get hold of up to 10 percent of the Romanian energy market in a short period of time, SOCAR said in a message quoting Hamza Karimov, director general of SOCAR Petroleum SA, a SOCAR subsidiary in Romania.
Karimov was addressing the Romania Oil and Gas Conference and Exhibition 2016 held in Bucharest.
During his speech, Karimov stressed SOCAR’s role as a reliable partner in the world energy market.
“Thirty-four filling stations operate in 17 Romanian regions, including Bucharest, under the SOCAR brand name,” Karimov said. “The company plans to take up to 10 percent of the Romanian energy market in the near future.”
SOCAR has invested $71.3 million in Romania as of Jan. 1, 2016.
In 2015, SOCAR Petroleum SA’s revenue from its activities in Romania amounted to $502,420.
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