SOCAR Trading company intends to resume trade ties with Iran, Arzu Azimov, SOCAR Trading Executive Director, said in his interview to Reuters.
“Before introduction of the sanctions against Iran, we have actively worked with the National Oil Company of Iran (NIOC) in the Caspian Sea region. We have a great potential for cooperation,” Azimov added.
He added that these possibilities also include oil products trade: “We can cooperate with Iran in field of oil products trade in the Gulf. We also have the oil storage in Fujairah terminal (UAE).”
He said deliveries of petrol to Iran and purchase of naphtha and liquefied petrol gas (LPG) from Iran could be considered as another option.—0—
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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