SOCAR Trading extends export contract with NNPC
Baku, Azerbaijan, June 8
By Maksim Tsurkov - Trend:
SOCAR Trading, a trading house of Azerbaijan’s state oil company SOCAR, has extended the contract with the Nigerian National Petroleum Corporation (NNPC) for the export of crude oil for two years, a source in Azerbaijan’s oil and gas market told Trend June 8.
SOCAR became one of 50 companies with which such agreements were signed, according to the source.
“The contracts require daily shipment of 30,000 barrels of the Nigerian crude and these volumes will be distributed among traders,” the source said. “In accordance with the contract, SOCAR will ship a total of 950,000 barrels of oil in July 2018-June 2020.”
The source didn’t disclose the value of the contract.
SOCAR Trading, headquartered in Geneva, was established in late 2007 by the State Oil Company of Azerbaijan.
The company sells SOCAR crude oil from Ceyhan port (Mediterranean Sea, Turkey), trades oil and oil products of other countries, and also assists the parent company in international investments. The SOCAR Trading operations cover the countries of Europe, Asia and America.
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