By Mirsaid Ibrahimzade
Azerbaijan state oil company SOCAR is continuing expansion of its network of filling stations throughout Azerbaijan.
Recently, a source at the company told Trend that SOCAR is planning to commission two filling stations in Baku and Sheki this year.
Currently, 29 SOCAR filling stations operate in the country.
The source added that SOCAR also continues to expand the network of filling stations selling compressed natural gas (CNG).
Earlier, SOCAR Vice President for Refining David Mammadov said that it is planned to bring the number of filling stations selling CNG in Azerbaijan to 14 by the end of 2019.
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 the country, 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.
Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1
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