Azernews.Az

By Aynur Jafarova

The activity of SOCAR Trading Company, an international marketing and development arm of Azerbaijan's state energy company, has brought additional revenues of $1.8 billion to the government.

This was noted in the analytical report of the Boston Consulting Group (BCG) posted at SOCAR Trading's website.

Currently, SOCAR Trading is considering possibilities of expanding its new international markets. This strategy will allow diversifying a trade portfolio of the company, increasing its share in trading operations with the participation of the third parties, using its own trade opportunities and strengthening a competitive position of Azerbaijani company in the world market.

The report said by trading other grades of oil besides Azerbaijani oil, SOCAR Trading has managed to obtain additional profit.

BCG report drew on SOCAR Trading Company's activities in the period of 2008-2013.
Since 2010, SOCAR Trading Company has annually got about 70 million barrels of oil of Turkmenistan, Kazakhstan, Russia and other origins and sold them in the market.

Based in Geneva, SOCAR's Trading Company exports the bulk of SOCAR crude oil from Ceyhan, sells significant volumes of third party crude and oil products and assists its parent company by international investments in logistics and downstream.

Since its first cargo shipment in April 2008, SOCAR Trading Company has successfully optimized and diversified SOCAR export lines to end-users across Europe, Asia and the Americas.

The SOCAR Trading Company has also leveraged its system barrel successfully to gain access to significant third-party crude and product volumes. It has also processed several operations and made investments in oil logistics. Third party business makes up more than one third of SOCAR Trading Company's activities.