SOCAR becoming one of major fuel oil exporters from Baltics
By Trend
Azerbaijan’s state oil company SOCAR is becoming one of the largest exporters of fuel oil from Baltic ports to world markets, a source in the country’s oil and gas market told Trend.
The source noted that SOCAR shipped over 320,000 tons of fuel oil from Baltic ports in January.
"SOCAR buys products from the Belarusian state oil company BNK and exports those products from Latvia’s Ventspils and Lithuanian Klaipeda ports. SOCAR shipped 120,000 tons of fuel oil from Ventspils to Malta and more than 200,000 tons from Klaipeda in January," the source said.
Thus, the company is turning into one of the largest exporters of fuel oil from the Baltics, according to the source.
SOCAR entered the oil products market of the Baltics in late 2017. Moreover, the company actively operates in the oil products market of the Black Sea states by shipping those products from Russian ports and its own terminal in Kulevi, Georgia.
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