BAKU, Azerbaijan, July 6. After the continued success of our Global Physical Trading initiative over the last 3-4 years, the focus is on further expansion into Natural Gas, LNG and Emissions, SOCAR Trading told Trend.
“With our offices located in all major trading hubs, such as Geneva, London, Dubai, Singapore and Houston - our global presence contributes on all fronts, with our European businesses being traditionally the main driver. At the moment, the main areas of further expansion are centered around existing locations. We plan to further build on our success and development of our activities in those regions, build on our strengths, and ensure sustainable development going forward while maintaining our role of a market maker for Azeri Light Crude Oil,” the company said.
Headquartered in Geneva, SOCAR Trading was incorporated in December 2007 as the marketing arm of the State Oil Company of Azerbaijan Republic (SOCAR) with a mandate to market Azeri barrels produced from the Azeri-Chirag-Guneshli field and other surrounding fields in Azerbaijan.
SOCAR Trading enjoys the advantages of being a wholly-owned state entity combined with the independence and global presence of a major commodities trading company based in Switzerland.
While the company continues to market the bulk of SOCAR crude oil export volumes from Ceyhan port in Turkey, it has also been able to develop significant third party volumes through both leveraging its system barrels, as well as its experienced traders developing new business.
SOCAR Trading has relationships with SWIFT and more than 40 banks in Europe, Asia and US.
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