SOCAR says all big trading companies attend the tender regarding oil sale announced every week. Those tenders are inspected by international audit companies: “SOCAR has successfully completely the switching process to International Accounting Standards as the first company which supported Transparency Initiative in Mining Industry in Azerbaijan. All consolidated reports of the company obtained positive judgments by international audit companies. At the same time, SOCAR was awarded with positive ratings by three authoritative rating companies and these ratings are upgraded year-by-year”.
SOCAR says it researches business features of partners who won international tenders on oil sale and prefers to know judgments of international banks, market participants about them. Moreover, financial statements about their financial states prepared by international audit companies are required. Following all these processes, SOCAR sign cooperation and mutual activity agreements with the opposite sides and works jointly. SOCAR’s collaboration with Singapore’s Sumato Energy PTE Ltd. ended in 2010. That company operated transparently and professionally during cooperation with SOCAR.
Besides, working with trading companies in oil business is an important condition of international market and all analogical companies use of it.
SOCAR states that the information about stealing of several documents from e-information base of Azerbaijan’s state bodies can not influence SOCAR’s successful oil business.
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