BAKU, Azerbaijan, Dec.6
By Leman Zeynalova – Trend:
Azerbaijan and Pakistan are finalizing the oil supply agreement, a senior official at Pakistan’s Petroleum Division told The News, Trend reports.
“The draft for agreement is being finalized by both sides and to this effect the Pakistan State Oil on behalf of Pakistan while SOCAR on behalf of Azerbaijan are now set to sign the agreement in the days to come,” said the official.
Under this agreement, Azerbaijan will start providing petrol to Pakistan under $100-$150 million credit facility without any sovereign guarantee.
SOCAR Trading, the trading house of the Azerbaijan’s state oil company SOCAR, will ink a long-term contact, envisaging supply of more than 1 million tons of oil products per year to Pakistan.
“Pakistani government has not yet approved the long-term contract. At the same time, we maintain regular contact in order to maintain the prospects of this project,” Ibrahim Ahmadov, deputy head of the public relations and events department at Azerbaijan’s state oil company SOCAR, earlier told Trend.
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