Baku, Azerbaijan, Oct. 21
By Emil Ismayilov - Trend:
Three car service centers under the brand of SOCAR (State Oil Company of Azerbaijan) will open in Switzerland by late 2014, SOCAR Energy Switzerland website says.
The service centers will open in Valbella and Lommise October 22 and 24 and in Vaduz November 5.
Moreover, the service centers under SOCAR brand will open in Walenstadt and Grono January 7, 2015.
SOCAR signed an agreement with Exxon Mobil in June 2012 to acquire its Swiss branch called Esso Schweiz GmbH. The total cost of the assets acquired by SOCAR in Switzerland is $330 million.
With the acquisition of Esso Schweiz, SOCAR received the retail network, the company's division for marketing of fuel for industrial and wholesale customers (the division sells household fuel and bottled gas to independent distributors throughout Switzerland).
SOCAR has also taken over the Wangen-Olten gas station group and a number of others as well as joint ventures specializing in aircraft refueling at Geneva and Zurich airports and the Swiss Provision and Supply Company that controls joint ventures managing terminals and pipelines.
SOCAR's revenues obtained in 2013 as a result of the activity in Switzerland amounted to 30.69 billion AZN compared to 3.33 billion AZN in 2012.
SOCAR is the only oil producer in Azerbaijan (it has two refineries on its balance), and also owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
The official exchange rate is 0.7843 AZN/USD Oct. 21.
edited by CN
