Azeri SOCAR buys Exxon Swiss unit
ExxonMobil has agreed to sell its Swiss fuel supply business, Esso Schweiz, to Azerbaijan’s state energy firm SOCAR, giving the Caspian energy power access to end-users in Europe.
After a year's transition, SOCAR will sell refined fuels at former Esso forecourts rebranded with SOCAR's own name, SOCAR said in a statement.
The company will take over several other Esso businesses in Switzerland, including a fuel wholesaler and aviation fuel supply businesses at Geneva and Zurich airports. It will own a retail network consisting of 170 filling stations, gas filling plant in Wangen bei Olten, and the supply company that controls joint ventures managing terminals and pipelines.
SOCAR President Rovnag Abdullayev told the signing ceremony that the company plans to provide high-quality retail sale services to Swiss consumers due to high-quality types of fuel and other services at filling stations. Besides, the company will become a reliable partner for household fuel and balloon gas suppliers, and for industrial clients in the field of aviation.
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