Azernews.Az

By Ayya Lmahamad

The State Oil Company of Azerbaijan (SOCAR) is not currently considering buying the Israeli Ashdod Oil Refinery Plant, local media reported with reference to the company’s Deputy Head of Public Relations Ibrahim Ahmadov.

Ahmadov stated that the company has received an offer for purchasing this oil refinery plant, however is not considering such investment now.

Earlier, Israeli media reported that SOCAR is interested in buying the Israeli Ashdod Oil Refinery Plant.

According to the report, SOCAR is required to have a local partner to be able to purchase the oil refinery and is negotiating with a number of Israeli companies for cooperation.

The main Israeli contenders for the purchase of the refinery are Shafir Andasa and Aspen.

It should be noted that the Ashdod Oil Refinery is the second largest oil refinery in Israel, which is currently responsible for 40 percent of Israel's oil consumption.

Its should be noted that Israel ranks fourth in terms of export of non-oil and gas products from Azerbaijan, accounting for 4.2 percent from the total value of Azerbaijan's exports.

Azerbaijan and Israel abolished double taxation between the countries back in April 2017.

The State Oil Company of the Azerbaijan Republic is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Moreover, SOCAR is the main supplier of oil to Israel. The company owns two refineries in Azerbaijan, one in Turkey, as well as networks of petrol stations in Azerbaijan, Turkey, Georgia, Romania and Switzerland.

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