In 2015-2016 SOCAR plans to open 13-14 petrol stations in Romania under SOCAR brand name, reported Romanian media quoting Vitalli Beglyarbekov, SOCAR Deputy Vice President for Marketing and Investments.
He said at present the company owns a network of 32 petrol stations under SOCAR brand name in Romania.
“We are very proud that we were able to create the company, which numbers about 500 employees and involved in many operations in Romania. However, we are going to do even more and our first step will be to increase number of petrol stations and volume of sale of oil products at the local market. In particular, till the end of 2015 we are going to open three or four new petrol stations in Romania and next years – ten mores stations,” Beglyarbekov said.
He said some petrol stations will be built from anew, while other will be purchased and renamed.
“SOCAR has already invested 50 million Euro into Romania and it is going to spend the similar amount in the coming 2-3 years to expand its network of petrol stations,” Beglyarbekov added.
SOCAR started working in Romania since 2011.—0—
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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