Switzerland: Socar To Acquire Network

The State Oil Company of Azerbaijan (SOCAR) is expanding operations in the fuel retail in Western Europe with the yet unannounced acquisition in Switzerland.

InBaku this week,  SOCAR presidentRovnag Abdullayev stated that SOCAR is preparing to buy a large network of fuelservice  stations in Switzerland."Negotiations are ongoing, and in the near future the acquisition will beannounced" he said. As negotiations were incomplete, he was unable to giveany further details.

Inrecent years, Socar has expanded its operations outside Azerbaijan. The firstinternational expansion took place in Georgia and Ukraine which was followed byRomania.  Switzerland willrepresent a significant step on the international market place.  The fuel retail network target of Socaris currently 100 in Georgia, 300 in Romania and 1000 in Ukraine. We can nowexpect an additional network number from Switzerland.

PetrolWorld 210911

March 2008: Switzerland Reportedly Getting GoodFuel Margins.