“Crude oil trading and products from third parties are the bread and butter of our business,” Azimov said. “We have a close eye on emerging markets where we might gain advantages. China, India, Africa, these are only some examples. For instance, we are constantly working in Africa, participating in all tenders for exporting. We are always looking for opportunities to buy and sell.”
Azimov said that for 2016, SOCAR Trading is setting its goal for growth and gain on equity by generating new trading activities, searching the market and meeting potential customers and counterparties.
“We will keep our presence in the physical market, but we will not become a pure trading company,” he said. “We will certainly continue our production business.”
Azimov said that another new development will be SOCAR Trading’s venture into the gas and power sector, which is regarded as the future in the fossil fuel market.
“If we invest in the refining sector, we will experience the opportunities that will arise,” he said. “We will stay integrated in the chain of crude oil in order to keep control. The more integrated we are, they more successful we are. Another important aspect which we are looking into will be business efficiency.”
Azimov said that no doubt, SOCAR Trading is well aware of its exposed position in crude oil trading and its future opportunities.
“Today, it employs a workforce of over 200 people at its Genevabased headquarters and at its trading offices in Singapore, Dubai and London,” he said. “SOCAR Trading has also recently incorporated its fifth trading office in Calgary, Canada. Our competitive advantage is our attachment to SOCAR as a state oil company and our position as a well-respected trading partner, which is also involved in third-party trading with a strong customer orientation.”
SOCAR Trading with headquarters in Geneva was created at the end of 2007 by the State Oil Company of Azerbaijan (SOCAR).
SOCAR Trading sells the main part of crude export volumes from the Ceyhan port (The Mediterranean Sea, Turkey), carries out trading of oil and oil products of other countries, and also renders assistance to the parent company with the international investments. The field of activity of SOCAR Trading covers the countries of Europe, Asia and America.
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