Baku. Agshin Rafigoglu – APA-Economics. Between 2010-2013, SOCAR Trading lifted circa 72 million barrels of crude oil from Turkmenistan under its own trading contracts with independent producers and sold it on the world markets by transiting via BTC pipeline. Over $350 million of BTC pipeline revenues have been generated due to additional Turkmen crude oils transiting the pipeline over 2010-2013.
APA-Economics reports that the conclusions in this report are based on the Wood Mackenzie which makes a report on activity of SOCAR Trading in 2008-2013 and six-year price dynamic in the world markets.
According to report of Wood Mackenzie, SOCAR Trading provided A$1.1 bln additional revenue to Azerbaijan through price rise of Azeri Light and fruitful activity during the reporting period.
Headquartered in Geneva, SOCAR Trading is the international marketing and development arm of SOCAR, the State Oil Company of Azerbaijan. The company markets the bulk of SOCAR crude oil export volumes from Ceyhan, trades significant volumes of third party crude and oil products and assists its parent company with international investments in logistics and downstream. Since it shipped its first cargo in April 2008, SOCAR Trading has successfully optimised and diversified the SOCAR barrel among end-users across Europe, Asia and the Americas.
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