Azerbaijan’s SOCAR to continue developing business in Ukraine

April 3, 2014

The State Oil Company of Azerbaijan (SOCAR) intends to continue developing its business in Ukraine, despite unstable political and economic situation in this country, SOCAR office in Ukraine told Trend on April 2.

The company's plans are unchanged; it intends to continue the construction of filling complexes and to create jobs, SOCAR's office said. "The company plans to expand its filing station complex network in Ukraine by 50 percent by autumn 2014. Additionally, it is expected to open new complexes in those provinces of Ukraine where the company wasn't previously represented," SOCAR Energy Ukraine said.

Currently, the filling stations operating under SOCAR brand name in Ukraine numbers 38, according to a data posted on SOCAR office's official website. SOCAR filling station complexes have already begun its operation in Kiev, Odessa, Lviv, Mykolayiv, Rivne, Cherkasy, Khmelnytsky, and Poltava provinces of Ukraine. The company imports oil products corresponding to Euro-5 standards from leading refineries of Poland, Lithuania and Belarus. SOCAR continues to steadily develop its filling stations network both in the capital of Ukraine and its regions, and provide the population with quality European oil products in order to strengthen its position in Ukraine's fuel market. SOCAR invested over $160 million in the development of business in Ukraine from 2009 to 2013. The company's investments in social and charitable initiatives in this country were equal to over $5 billion during the mentioned period.

Copyright: Trend, 2014