SOCAR, Swiss-based Vitol Group eye cooperation
Azerbaijan’s state oil company SOCAR and Swiss-based Vitol
Group, one of the largest trading companies in the world discussed
cooperation in trading and investment spheres.
This issue was discussed during the meeting of SOCAR President
Rovnag Abdullayev with head of Vitol Group Ian Taylor, SOCAR
reported.
The sides touched upon the current state and prospects for
cooperation in the international market of energy resources.
“They emphasized the likelihood of joint activities in the future
and practicability of expanding the relations,” said the
message.
SOCAR is the sole producer of oil products in Azerbaijan. It has
two oil refineries and filling stations in Azerbaijan, Georgia,
Ukraine, Romania and Switzerland.
It is the co-owner of the largest Turkish petrochemical complex,
Petkim, and other assets in Turkey.
SOCAR includes production associations Azneft (the enterprises
producing oil and gas onshore and offshore), Azerkimya (the
chemical industry enterprises) and Azerigaz.
The company also has a number of processing enterprises, service
enterprises, and institutions involved in geophysical and drilling
operations.
The Vitol Group is a Swiss-based, Dutch-owned multinational energy
and commodity trading company. Founded in 1966, it is the second
largest oil trader in the world after Glencore plc.
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