SOCAR Trading won the tender for the purchase of Turkmen oil Eni
09:56 24.12.2020 9162
Turkmenistan became SOCAR Trading (a trading subsidiary of SOCAR, SOCAR). Argus Media, an independent pricing agency, reported.
SOCAR Trading managed to bypass the largest players in the oil market - ENOC, Vitol, Rosneft, LUKOIL and Trafigura in the tender.
As a result, the Azerbaijani company returned to its portfolio part of the hydrocarbons purchased since 2017 by Vitol in Turkmenistan. Thanks to these changes, experts expect that supplies of Turkmen oil through the Baku-Tbilisi-Jeyhan oil pipeline will increase by reducing transit through Makhachkala and Novorossiysk.
Reportedly, during 2021, Eni Turkmenistan will ship about 30-40 thousand tons per month of Okarem oil. Meanwhile, the export of this raw material from Turkmenistan increased to 341 thousand tons from 310 thousand tons a year earlier. The entire volume is transported by tankers in the direction of Makhachkala for further pumping to Novorossiysk.
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7 transactions were registered at the State Commodity and Raw Materials Exchange of Turkmenistan last week.
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Speaking at a meeting of the Halk Maslahaty of Turkmenistan, National Leader of the Turkmen people Gurbanguly Berdimuhamedov emphasized that the key factor in the sustainable advancement of any country is economic growth, TDH reports.