BAKU, Azerbaijan, May 6. SOCAR Petroleum SA (Romanian subsidiary of the State Oil Company of Azerbaijan) earned 10.7 million lei ($2.3 million) last year, up from 5.3 million lei ($1.15 million) in 2022, Trend reports via SOCAR Petroleum SA.
An increase from the previous year's 2.6 billion lei ($559.3 million) to 2.72 billion lei (approximately $581 million) was the subsidiary's turnover for 2023.
By the beginning of 2024, the number of employees at SOCAR Petroleum SA had reached 697.
Notably, Socar Petroleum SA has been operating in Romania for almost 13 years and owns 75 gas stations there.
Socar Petroleum SA also imports and distributes petrochemical products such as methanol, urea, polyethylene, and polypropylene in Romania, with three warehouses in Teius, Onesti, and Constanta.
In summer 2023, the Azerbaijani and Romanian governments discussed the possibility of expanding SOCAR's business in Romania, including gas trading.
