SOCAR Trading is a subsidiary of the State Oil Company of the
Azerbaijani Republic (SOCAR) that specializes in trading oil and oil
products. It signed a deal with the Korean National Oil Company (KNOC)
in Baku on August 19, 2011, Turan reports.
SOCAR Trading received terminals in Korea for two years and can
prolong the deal. The company may store 5.3 million barrels of oil.
The document was signed by SOCAR Vice-President Khoshbakht Yusifzade
and KNOC Vice-President Mun Hyong Baik.
SOCAR Trading was opened in February 2008. Its headquarters are in
Geneva (Switzerland). The company had a trade turnover of $19 billion
in 2010. 37% of oil products belonged to other companies. The company
has offices in the UAE, Singapore, Egypt and Nigeria.
