Azerbaijan: Privatisation of SOCAR Not on Agenda
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Thursday, 26 January 2012 |
The privatisation of the State Oil Company of Azerbaijan (SOCAR) is not on the agenda, according to Director Rovnag Abdulalayev (pictured). "SOCAR's refusal from its non-core assets has no bearing on any privatisation. It is part of the transformation of the State Oil Company and bringing its activities into line with international requirements," he said, directly refuting reports that the Azerbaijan Government could seek to raise funds through a sale of a stake in the firm.
SOCAR is the only producer of oil products in Azerbaijan and owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland. The company has already transferred its social and medical facilities – as well as those in energy, communications and water supply sectors – into balance with relevant state agencies.
PetrolWorld 26012012
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