Azerbaijan’s state oil company SOCAR plans to get hold of up to 10% of the Romanian energy market in a short period of time, SOCAR said in a message quoting Hamza Karimov, director general of SOCAR Petroleum SA, a SOCAR subsidiary in Romania.
Karimov was addressing the Romania Oil and Gas Conference and Exhibition 2016 held in Bucharest.
During his speech, Karimov stressed SOCAR’s role as a reliable partner in the world energy market.
“Thirty-four filling stations operate in 17 Romanian regions, including Bucharest, under the SOCAR brand name”, Karimov said. “The company plans to take up to 10% of the Romanian energy market in the near future”.
SOCAR has invested $71.3 million in Romania as of January 1, 2016.
In 2015, SOCAR Petroleum SA’s revenue from its activities in Romania amounted to $502,420. (Trend/Business World Magazine)