Baku, Azerbaijan, Aug. 14
By Maksim Tsurkov – Trend:
Revenues of SOCAR Trading, marketing arm of Azerbaijan’s state oil company SOCAR, amounted to $25.9 billion in 2016, as compared to $22.7 billion in 2015, a source in SOCAR Trading told Trend.
In 2016, total sales volume increased to 50 million tons compared to 47.7 million tons in 2015.
More than 21 million tons of the 2016 sales volume (158 million barrels) accounted for Azerbaijani oil, about 19 million tons (140 million barrels) accounted for the third-party oil and 10 million tons – for oil products.
Same source noted that, 59 percent of the sold oil products comprised of light distillates (gasoline, naphtha, kerosene, LNG and condensates), 36 percent accounted for heavy distillates (fuel oil) and five percent – for middle distillates (gasoil and low-sulfur diesel fuel).
“Oil products are sold worldwide, thanks to a set of physical assets, logistics and professional experience. The company continues to expand its business with new traders,” the source added.
SOCAR Trading was established in Geneva in December 2007. Its activities cover US and countries in Europe as well as Asia.