The State Oil Company (SOCAR) has closed its office in Geneva.
According to the interview of the Azerbaijani Ambassador to Switzerland Akram Zeynalli with Nasha Gazeta (Our Newspaper), cost optimization and restructuring of various departments is connected with the unexpected almost threefold fall in world oil prices over the past 1.5 years.
SOCAR was represented in Switzerland by three different bodies: the official representation and the companies SOCAR Trading and SOCAR Energy Switzerland. Thus, SOCAR Energy Switzerland operates a network of petrol stations in Switzerland, gradually expanding the network across the country.
In recognition of the diplomat, the state company actively invests in the economy of various countries, e.g. the purchase of a petrol station network Esso from Exxon Mobil in 2011. Today SOCAR petrol stations network consists of approximately 160 units.
Enjoying the status of state monopoly, SOCAR is the only producer of oil products in Azerbaijan and it also owns petrol stations in Georgia, Ukraine, Romania and Switzerland, not counting the local stations network.
According to official figures, last year SOCAR exported 1.23 million tons of oil (+ 0.3 million tons to 2014). By April 1, it exported 350,000 tons of oil (+ 1,400). --17D-
Economics
-
Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
-
Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
-
Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
-
Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
Leave a review