SOCAR interested in Swiss oil refinery

Socar Trading, which is a subdivision of the State Oil Company of Azerbaijan (SOCAR) is interested in Petroplus Holdings AG's Swiss oil refinery in Cressier, RSR radio quotes the head of economy in Neuchatel Thierry Grosjean, Bloomberg reported.

Neuchatel is the canton where the Swiss oil refinery is based. In November, 2011 SOCAR signed agreement with Exxon Mobil over acquisition of its Swiss division, Esso Schweiz GmbH.

SOCAR Energy Switzerland, a recently founded company, intends to continue commercial activity on the provision of high-quality services at the expense of acquisition of Esso.

The company will work under the Esso brand within 12 months after change of the owner. De-branding of business related to aviation, trucks, and oil storage tanks will be carried out 30 days after the completion of the transaction.


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