SOCAR’s subsidiary in Romania increases authorized capital
SOCAR Petroleum S.A., the subsidiary of the State Oil Company of
Azerbaijan (SOCAR) in Romania, has increased its authorized capital
by over 8 million euros, Romanian media reported on Mar.29 citing
the data from the country’s National Trade Register.
The company’s authorized capital was increased by 8.02 million
euros in February, according to the report.
“Theoretically, this sum is enough to construct eight new filling
stations,” according to Romanian media.
Currently, 32 filling stations under the brand name of SOCAR are
operating in Romania and if these funds are used for expanding
their network, their number will increase to 40, according to the
report.
SOCAR brought the number of the filling stations in Romania to 32
on Jan.30 by commissioning a filling station in Romania’s Sibiu
city.
It was earlier reported that SOCAR plans to commission another 10
filling stations under its own brand name in Romania in 2015.
SOCAR is the only producer of petroleum products in Azerbaijan. It
has two refineries and owns filling stations in Azerbaijan,
Georgia, Ukraine, Romania and Switzerland.
The company exported 1.2 million metric tons of petroleum products
from the country in 2014, compared to 1.05 million metric tons in
2013.
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