SOCAR emerges as winning bidder for Turkmen oil 1

Quoting Argus Media, Report said that the trading arm of Azerbaijan’s state-run oil company, SOCAR Trading, had won a tender from Eni Turkmenistan to buy Turkmen oil (https://report.az/en/energy/another-victory-socar-wins-tender-for-turkmen-oil-purchase/).

Such an outcome made it possible for the company to add back to its portfolio some part of Turkmenistan’s crude oil exported by Vitol since 2017. While tendering for the contract, SOCAR Trading got the upper hand over such oil giants as ENOC, Vitol, Rosneft, Lukoil, and Trafigura.

Market players believe that awarding the contract to SOCAR Trading may step up Turkmenistan’s crude oil supplies through the Baku-Tbilisi-Ceyhan (BTC) pipeline amid reduced shipments from Makhachkala railway station to Novorossiisk port.

When asked by Report, Adnan Ahmadzade, Deputy Vice President of SOCAR, confirmed the deal.

Eni Turkmenistan is said to be planning to offload 30,000 – 40,000 tons of Okarem oil monthly in 2021.

From January to November 2020, Okarem oil exports reached 341,000 tons, a 30,000-tonne increase on a year-over-year basis.

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