Azeri State oil group plans petrol station blitz by 2014
May 2011 - From the Print Edition
Azerbaijan’s state oil company Socar is planning to open 300 petrol stations in Romania, according to Socar president Rovnag Abdullayev, as quoted by Azerbaijan Business Centre online (abc.az).
The company president stated that the company, which has extended to Ukraine and Georgia, is targeting the development of 300 Socar units in the next three years in Romania.
Last month President Traian Basescu travelled to Baku to increase investment ties between the two countries, who have been strengthening their alliance for the past five years.
“The fact that a company the size of Socar has started becoming a fuel distributor in Romania, with hopes of expanding the networks to the people, is very important because it helps build strong competition in prices both for people and the industry,” Basescu stated.
The President also welcomed Socar to invest in Romania’s sell-offs in the state energy sector later this year and in 2012, which include minority stakes in the gas producer Romgaz and oil and gas group OMV Petrom.
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