Azerbaijan’s state energy giant SOCAR increased the volume of its fuel supplies to Ukraine. The company delivered some 136,000 tons of fuel in 2016, recording an increase of 7 percent compared to 2015.
In July 2016, SOCAR became a winner of a tender announced for supply of fuel to Ukrzaliznytsia (Ukrainian Railways). Following the tender, SOCAR Energy Ukraine and Ukrzaliznytsia signed an agreement on the supply of diesel fuel with a total volume of 14,087 tons worth over $10 million.
Besides, in late December, the Kremenchuk Oil Refinery Ukrtatnafta received its first cargo (some 80,000 tons) of Azeri Light crude oil, while the company plans to receive a total 1.3 million tons of oil in 2017.
In Ukraine, SOCAR is represented by SOCAR Energy Ukraine, running a network of 58 refueling stations. The company launched the first filling chain in Ukraine in 2011.
The main activity of SOCAR Energy Ukraine is to improve the network of petrol filling stations and organize wholesale of petrol and oil products in the territory of Ukraine. The company opened its representation in Ukraine in 2008.
So far, it has invested over $200 million in the development of business in Ukraine.