CASPIAN OIL & GAS - SOCAR Trading chief: Oil prices to reduce market proposal

SOCAR Trading chief: Oil prices to reduce market proposal



Iran's return to the global oil market has not had a serious impact on distribution of powers.

According to Oxu.Az, the due statement came from head of SOCAR Trading Arzu Azimov.

He said those who fear the neighbor's return to the market are exaggerating the situation:

"Due to logistic complexities Iran's share in the European market is significantly low. Iran is not able to restore the access to SuMed pipe (with the help of this pipe the Middle Eastern companies can export big volumes of oil to the Mediterranean Sea," he said.

On prospects of prices, Azimov said he does not believe that it will drop below $40 by the end of the year.

"If the price drops to this line, the United States will shut down its wells, thus reducing the offer."

News.Az, 30.07.16


TITL:SOCAR to supply diesel fuel worth over 10M to Ukraine

TEXT:Azerbaijan is to increase supplies of oil products in Ukraine.

Azerbaijan's state oil company SOCAR became a winner of a tender previously announced for supply of fuel to Ukrzaliznytsia (Ukrainian Railways).

SOCAR Energy Ukraine Trading House will supply about 14,000 of diesel fuel worth over $10 million, Ukrainian media reported.