Turkish media reported that this will happen at the expense of sale of 13.5% out of 18.5% share of Turcas Grupu SOCAR-Turkey, daughter company of SOCAR in Turkey, in the Star oil refinery in Izmir, Turkey.
The official statement of the Turkish company says that the results of sale will be announced after signing of the agreement between the two companies. If the deal takes place, share of the Turkish company in the daughter company will reduce to 5%.
At present Rafineri Holding AS (founded by SOCSR-Turkey) owns 41.5% shares of the oil refinery. Turcas Grupu owns 18.5% and 40% more shares of the oil refinery are owned by SOFAZ.
The information about sale of share of Petlim Limancilq, which is owned by Petkim Holding (SOCAR Turkey), has been recently disseminated. Before that the company has started talks with the US Goldman Sachs investment company. SOCAR plans to use profit from sale of Petlim to increase its share in the Star oil refinery project. SOCAR Turkey President Kenan Yavuz said that size of the share will vary within 25%.—0---
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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