ECONOMY


SOCAR Trading buys seven oil tankers

Baku, March 13, AZERTAC

SOCAR Trading SA company, which is engaged in the sale of oil and oil products of SOCAR, bought seven tankers.

SOCAR Trading Executive Director, Arzu Azimov said that under a contract signed last month, SOCAR Trading bought 2 "Suezmax" class tankers with a capacity of 140 thousand tons and 5 "Aframax" class tankers with a capacity of 80 thousand tons.

The company intends to expand its transport capacity in the Mediterranean and Caspian seas.

The company’s fleet has 30 vessels with deadweight of 5000-15000 tons. Among them oil tankers are in the majority.

Headquartered in Geneva, SOCAR Trading was incorporated in December 2007 as the marketing arm of SOCAR with a mandate to market Azerbaijani barrels produced from the Azeri-Chirag-Guneshli field and other surrounding fields in Azerbaijan.

SOCAR's activity in Switzerland is carried out by "SOCAR Trading" and the company is actively involved in the sale of petroleum products on the market. The company's market value is about 1.15 billion US dollars.

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