SOCAR MARINE: Performance in January-May 2020
BAKU, Azerbaijan, Aug.24
By Leman Zeynalova – Trend:
SOCAR MARINE, subsidiary of Azerbaijan’s state oil company SOCAR, sales fuel (transit or export) to vessels performing port operations in international ports within Turkey’s territorial waters, as well as to vessels transiting though Turkey’s territorial waters, SOCAR Turkey told Trend.
SOCAR MARINE is the market leader with 28 percent market share for the period from January through May 2020, the company said.
SOCAR MARINE sold more than 600,000 tons of marine fuels in 2019, thus becoming a leader in Turkey’s international marine fuels sales.
The company sold its marine fuel to vessels, transiting through the Turkish straits, to ships traveling from abroad to ports of the country or in the opposite direction.
SOCAR operates in Turkey through its subsidiary. SOCAR Turkey Enerji A.S. (SOCAR Turkey), a subsidiary of SOCAR (State Oil Company of Azerbaijan Republic) which is one of the most deep-rooted global oil and natural gas companies, initiated its business operations in Turkey upon acquisition of 51 percent of the shares of Petkim from the Privatization Administration in 2008.
Drawing attention with its giant projects realized one after another which will have a total investment value of $19.5 billion once completed, SOCAR Turkey encompasses the best-in-breed companies such as Petkim, TANAP, STAR Refinery, SOCAR Terminal, Petkim RES (Wind Power Plant), Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret and SOCAR Depolama.
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