167 filling stations of SOCAR operates in Switzerland

4 September 2018 16:13 (UTC+04:00)

By Naila Huseynli

At the end of last year, 167 petrol stations of SOCAR operated in Switzerland.

It is stated in the annual report of SOCAR in 2017, AZERTAC reported.

The report says that SOCAR operates in Switzerland through SOCAR Trading and SOCAR Energy Switzerland. SOCAR Trading was founded in Geneva, in 2008. The company is engaged in the sale of crude oil, oil and oil products owned by third parties.

SOCAR Trading was founded in order to expand oil revenues from Azerbaijani oil by exporting directly to the world market after delivery of crude oil from Azerbaijan to the Ceyhan port through the Baku-Tbilisi-Ceyhan (BTC) pipeline, increase the profitability of SOCAR in dealing with the sale of oil and petroleum products owned by third parties in international markets, increase Azerbaijan's sphere of influence in the world.

The main offices are located in Geneva (headquarters), Singapore, Dubai, London, Houston and Calgary.

SOCAR Trading have established relations with all processing factories which is capable of processing Azeri Light oil. Azerbaijan sent its oil to Asia through shifting oil away from the low-sulfur oil-rich Mediterranean Sea, and managed to increase the price of crude oil.

The company has increased its international reputation through participating in Oil terminal at Fujairah port of United Arab Emirates and LNG terminal projects in Malta.

SOCAR Energy Switzerland is engaged in the wholesale and retail sale of oil products in the Swiss market.  The assets of Esso Switzerland have been controlled by SOCAR in accordance with the contract signed between SOCAR and ExxonMobil in 2012.

Retail stores also operate in filling stations based on franchising agreements with well-known Swiss company,   Migros.

SOCAR is the sole producer of petroleum products in Azerbaijan owning over 370 filling stations in Georgia, Ukraine, Romania and Switzerland. It is also a co-owner of the largest Turkish petrochemical complex Petkim.

The company with headquarters in Geneva was established by SOCAR at the end of 2007. Presently, SOCAR Trading sells the bulk of SOCAR’s crude oil exports from the Turkish port of Ceyhan, trades oil and oil products of other countries, and assists the parent company in connection with international investments. SOCAR Trading’s field of activity covers the countries of Europe, Asia and America.

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