SOCAR trading reaches agreement with SONABHY

By Azernews

By Nigar Abbasova

SOCAR Trading, the biggest supplier of Azeri Light crude oil in the world, has reached an agreement on supplies of oil products to Burkina Faso’s SONABHY Company. 

Azerbaijani delegation led by Energy Minister Natig Aliyev earlier paid a visit to Burkina Faso and Benin to mull the issues of the energy cooperation.  

The delegation held a number of meetings with high-ranking officials and representatives of oil industry of Burkina Faso. Main objectives of the visit were to discuss the perspectives of energy cooperation between Azerbaijan and West African states, as well as strengthen the prestige of Azerbaijan and activate commercial operation of SOCAR in the region.

Aliyev said that the Azerbaijani side presented different energy projects to heads of Burkina Faso and Benin, mentioning that the projects will open new opportunities for the countries to get additional volumes of energy supplies.

Being a major importer of energy, Burkina Faso is highly dependent on energy imports, notable of oil, as the country has no known crude oil reserves or refining capacity.

Diplomatic relations between the two countries were established in 2004, while the sides also cooperate within such organizations as UNO, OIC and African Union, where Azerbaijan has an observer status.

Being headquartered in Geneva, SOCAR Trading was incorporated in December 2007 as the marketing arm of the State Oil Company of Azerbaijan (SOCAR).