Azerbaijan's Socar seeks to grow trading, restart Iran deals
Published on: Monday 22 February 2016
Azeri state oil firm Socar's trading division is looking to reactivate deals with Iran, as well as expanding into new markets ranging from North American crude to natural gas in Europe, its chief executive told Reuters. Neighbours Azerbaijan and Iran have been strengthening ties since the removal of sanctions against Tehran in January and on Tuesday Iran's national oil company NIOC and Socar signed a memorandum of understanding as part of a visit by Azeri President Ilham Aliyev to the Islamic Republic. There is a great potential to explore," Arzu Azimov, the chief executive of Socar Trading, said.
