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December 3, 2021

Azeri state-run oil company to open 300 gas stations

The state-run oil company of Azerbaijan (SOCAR) plans to expand its network of gas stations abroad, with Romania being a main target of the expansion, ABC.az announces, quoted by HotNews. Rovnag Abdullaiev, president and CEO of SOCAR, announced that the company plans to open about 300 fuel stations in Romania two or three years from now. SOCAR already began to expand its network in Ukraine, by opening 7 new gas stations, to be followed by 17 more this July.

SOCAR currently operates the largest gas station network of Georgia, which will reach 100 units this year. If the Azeri state oil company achieves its goal, it will jump to a leading position on this market segment in Romania. Currently, the largest network of fuel stations in Romania is operated by Petrom (550 units), followed by Rompetrol (450) and LuKoil (300).

SOCAR is present on the local market since 2007, when it opened an office in Bucharest. The Azeri company wanted to take over the Arpechim refinery from Petrom, but the negotiations failed. At the middle of last month, the ‘Monitorul de Botosani’ newspaper reported that SOCAR purchased the majority stake in Romtranspetrol, which operates 14 fuel stations in the counties of Neamt, Suceava, Iasi and Botosani. The price of the transaction has not been disclosed.

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