Socar Trading to sell Nigerian oil
BAKU – Socar Trading, a subsidiary of the Azerbaijani state energy firm Socar, has signed an agreement on selling the Nigerian state-run NNPC company’s crude in world markets, Socar said on Friday.
NNPC has chosen Socar Trading to sell 30,000 barrels of oil per day in 2011.
The one-year contract is effective from May 1.
Socar Trading has operated an office in Nigeria since 2009.
Socar's oil and gas enterprises produced 7.28 million tons of oil and more than 7 billion cubic meters of gas in 2010.
Socar and its foreign partners are involved in such major projects as the development of the block of oil and gas fields Azeri-Chirag-Gunashli and Shahdaniz gas condensate field in the Caspian Sea.
Socar is the only producer of oil products in the country, and also owns gas-filling stations in Azerbaijan, Georgia and Ukraine. Socar is also a co-owner of the largest Turkish petrochemicals complex Petkim.
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