SOCAR Trading sells 22m tons of Azerbaijani oil in 2015
By Laman Ismayilova
SOCAR Trading sold a total of 47 million tons of crude in 2015, 22 million tons of which is Azerbaijani oil, to make $22. 7 billion in profit, Azertac reported.
SOCAR Trading is active in oil products trading with its dedicated desks for light, middle, and heavy distillates trading 15 million metric tons in 2015. The light distillates desk trades gasoline, naphtha, LPG and condensates, middle distillates desk trades gasoil and ultra-low-sulfur-diesel (ULSD), while the heavy distillates desk trades fuel oil.
Products are traded globally, through relying on a combination of physical assets, logistical presence, and professional expertise, with the company continuing to expand its products trading activities with new traders and commodity desks being added regularly coupled with expanded support from middle and back office functions.
Headquartered in Geneva, SOCAR Trading was incorporated in December 2007 as the marketing arm of the State Oil Company of Azerbaijan Republic (SOCAR) with a mandate to market Azeri barrels produced from the Azeri-Chirag-Guneshli field and other surrounding fields in Azerbaijan.
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