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SOCAR opens 34th filling station in Romania
Azerbaijan’s oil giant SOCAR expanded the network of its filling stations in Romania. Currently the number of the company’s facilities in Romania amounts to 34.
The new filling station was launched in the city of Pitesti. SOCAR operates filling stations under its brand in 17 regions of Romania.
Being the sole producer of oil products in Azerbaijan, SOCAR also operates its filling stations in Georgia, Ukraine and Switzerland. The company exported 1.23 million tons of oil products in 2015, as compared to 1.2 million tons in 2014.
The company established its first gas-filling station in Romania in 2011 when it was introduced in the country by the SOCAR Petroleum SA.
Romania and Azerbaijan also cooperate in the implementation of AGRI energy project which is aimed at diversifying the energy supply sources of the European Union and involves the transport of Azerbaijani natural gas to Romania and into Central Europe
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, as well as oil and chemical products in domestic and international markets, and supplying natural gas to the industry and the public in Azerbaijan.
The company invests billions of dollars annually in transportation’s infrastructures and is involved in projects designed to increase Europe's energy security through diversification of natural gas.
The profit of SOCAR Petroleum SA, the subsidiary of Azerbaijan's state oil company SOCAR in Romania, stood at 2 million Romanian leus ($502,420) in 2015, Romanian media reported citing the country's Ministry of Public Finance, http://en.trend.az/ informs.
The company has completed the fiscal year with profit for the first time since the opening of the first gas filling station in Romania in 2011.
"The trade turnover of SOCAR Petroleum SA stood at 616.2 million Romanian leus ($154.8 million) in 2015, or 17 percent less than in 2014," said Romanian media. "However, the company managed to get 2 million Romanian leus of profit."
The decrease in the company's trade turnover is due to the lower oil prices, while the profit was gained as a result of the growth of profitability in the distribution segment, according to Romanian media.