Azerbaijan , Baku /corr Trend I.Khalilova / The State Oil Company of Azerbaijan (SOCAR) intends to sell oil to Thailand's PTT Public Company Limited at the price higher than those offered by SOCAR traders through tender.
"If they found these prices reasonable, SOCAR will carry out regular deliveries," a Senior official of SOCAR informed.
SOCAR is to deliver up to 1mln barrels of Azeri Light oil a month to oil refinery plants of PTT Public Company Limited in Thailand.
SOCAR and PTT Public signed a contract on oil delivery for the term of 1 year. Oil will be delivered at FOB or CFR from Ceyhan, where it is supplied via the Baku-Tbilisi-Ceyhan export pipeline.
PTT Public Company Limited is a large oil company in Thailand which is involved in the production of oil and gas, refinery, transportation as well as the import and export of oil products. PTT holds a share at 4 oil refinery plants in Thailand with a daily capacity of 925,000 barrels.
"Many independent oil refinery plants take interests at the market in purchase of crude oil from SOCAR," the same source added