SOCAR expands network of filling stations abroad

3 July 2019 18:17 (UTC+04:00)

By Mirsaid Ibrahimzade

Azerbaijan's State Oil Company SOCAR has launched a new filling station in Romania.

“The filling station was commissioned in the city of Satu Mare. Thus, the total number of filling stations under the SOCAR brand has reached 43,” said a message by SOCAR.

The filling station is equipped with the latest technology, equipment, fast pumps, as well as a low-power lighting system and an electric vehicle charging station.

It is noteworthy that SOCAR's subsidiary in Romania - SOCAR Petroleum SA plans to sell in Romania oil and oil products produced at SOCAR’s Petkim and Star plants in Turkey, and methanol and carbamide plants in Azerbaijan. ROMGAZ and TRANSGAZ, two of the most important Romanian companies in the natural gas sector, have long-standing cooperation relationships with SOCAR.

Currently, 29 SOCAR filling stations operate in Azerbaijan. SOCAR also continues to expand the network of filling stations selling compressed natural gas (CNG).

SOCAR Petroleum started retailing CNG in July 2018. A number of passenger buses driven in the country use CNG.

Currently, SOCAR is the only producer of oil products in Azerbaijan, and also operates more than 370 filling stations in Switzerland, Georgia, Romania and Ukraine.

In 2018, the revenues of SOCAR from operations in Azerbaijan amounted to 6.6 billion manats (23.1 percent up), in Turkey – 4.9 billion manats (0.9 percent up), in the United Arab Emirates – 2.3 billion manats (77.6 percent up), in Georgia – 1.1 billion manats (5.2 percent down), and in other countries – 1.6 billion manats (44.5 percent up).

Three production divisions, 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. The company has a significant position in a number of regional and international energy projects.

Generally, SOCAR is one of the world's 50 largest oil companies. Its mission is to ensure the energy security of Azerbaijan. Established in 1992, SOCAR aimed at manage Azerbaijan's oil resources on the basis of a single state policy, to improve the management structure of the oil industry and to ensure the development of fuel and energy complex.

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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