Baku, Azerbaijan, Aug. 9
By Ilkin Shafiyev - Trend:
The decision of SOCAR Trading (trading house of the Azerbaijani state company SOCAR) to reduce the team of traders working in the North sea region is connected with the optimization of the company's activities, SOCAR Trading told Trend Aug. 9.
"As a result of the strategic analysis and further optimization of our structure with an emphasis on the existing assets, it was decided to reduce our trading presence in the North sea. The decision was made together with our team of traders in the North sea region", the company noted.
Earlier, Reuters reported that on Aug. 6 that North Sea trading co-heads Gary Middleditch and David Fildes who were engaged in operations in the North sea region, as well as crude traders Tom Arnold and David Clare left SOCAR Trading.
It was also noted that the company has appointed a new head of physical crude trading. Dario Striano has been appointed to this position.
SOCAR Trading, headquartered in Geneva, was established in late 2007 by the State Oil Company of Azerbaijan.
The company sells the SOCAR crude from the port of Ceyhan (Mediterranean Sea, Turkey), trades in oil and petroleum products of other countries, as well as assists the parent company in connection with international investments.
The activity of SOCAR Trading covers the countries of Europe, Asia and Americas.
Follow the author on Twitter: @IlkinShafiyev