TODAY.AZ / Business

Financial turnover of SOCAR Romania hits $181M

21 June 2018 [16:44] - TODAY.AZ

By Azernews


By Sara Israfilbayova

The authoritative financial and analytical newspaper of Romania “Ziarul Financiar” wrote an article about SOCAR Petroleum SA, a subsidiary of SOCAR in Romania.

The newspaper reported that that last year the financial turnover of the company, which is included in the first ten of the Romanian fuel market, amounted to 731 million leu (about 309 million manats-$181.76 million).

SOCAR owns 39 gas stations in Romania and intends to expand its activities in this direction.

SOCAR Petroleum SA was founded on January 30, 2011 to manage the purchase and sale of petroleum products in Romania and provide supply services that meet international standards and a diversified transportation infrastructure.

SOCAR plans to increase the number of its gas stations in Romania up to 100.

The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.

Three production divisions, such as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), one oil refinery and one gas processing plant, a deep water platform fabrication yard, two trusts, one institution, and 23 subdivisions are operating as corporate entities under SOCAR. 

At present, SOCAR is the only producer of petroleum products in the country, and operates more than 370 petrol stations in Switzerland, Georgia, Romania and Ukraine. SOCAR is also a co-owner of Turkey’s largest petrochemical complex Petkim and other assets in Turkey.

In total,  38.69 million tons of oil was produced in Azerbaijan in 2017, 7.42 million tons of which accounts for SOCAR.

URL: http://www.today.az/news/business/171218.html

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