TODAY.AZ / Business

SOCAR's trading branch

31 August 2006 [09:37] - TODAY.AZ
Azeri state oil firm SOCAR will launch its oil trading branch next year and sell crude directly to refiners, scrapping the current system of tenders, a Socar official said Wednesday.

SOCAR's vice president Elshad Nasirov said the key reason behind the move was the growing volume of crude that Socar was getting as its part in a Caspian Sea production sharing deal with BP and other oil majors, Reuters news agency reports.



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