SOCAR Trading plans to view possibility of extending export contract with NNPC

By  Trend

SOCAR Trading, a trading house of Azerbaijan’s state oil company SOCAR, plans to consider the possibilities of extending the contract with the Nigerian National Petroleum Corporation (NNPC) for the export of crude oil, SOCAR told Trend.

"The contract with NNPC expires in June 2019 and we plan to view the possibilities of extending it," said the company.

SOCAR said that it exports averagely around 1 million barrels of crude oil from Nigeria per month.

SOCAR Trading, headquartered in Geneva, was established in late 2007 by the State Oil Company of Azerbaijan.

The company sells SOCAR crude oil from Ceyhan port (Mediterranean Sea, Turkey), trades oil and oil products of other countries, and also assists the parent company in international investments. The SOCAR Trading operations cover the countries of Europe, Asia and America.