October 20, 2016 4:03 PM ET

Oil, Gas and Consumable Fuels

Company Overview of State Oil Company of the Azerbaijan Republic

Company Overview

State Oil Company of the Azerbaijan Republic engages in the upstream, midstream, and downstream operations primarily in Azerbaijan, Turkey, the United Arab Emirates, Georgia, Switzerland, and other countries. The company operates in four segments: Oil and Gas, Refining, Construction, and Sales and Distribution. It is involved in exploring oil and gas fields; producing, processing, and transporting oil, gas, and gas condensate; marketing petroleum and petrochemical products; and supplying natural gas to industry and the public in Azerbaijan. The company also engages in the construction of administrative premises and assets for extraction of oil and gas condensate. State Oil Company of the Aze...

73 Neftchilar Avenue

Baku,  1000


Founded in 1992


994 12 521 02 82


994 12 521 03 83

Key Executives for State Oil Company of the Azerbaijan Republic

Chairman of The Council and President
Age: 51
Head of The Executive Office and Member of The Council
Age: 61
Vice President of Investments & Marketing and Member of The Council
Age: 56
Head of the Legal Department, Member of the Council and Member of Audit Committee
Age: 51
Vice-President of Human Resources, Information Technology & Regulations and Member of the Council
Age: 58
Compensation as of Fiscal Year 2016.

State Oil Company of the Azerbaijan Republic Key Developments

SOCAR To Sell JV Shares

State Oil Company of the Azerbaijan Republic (SOCAR) intends to sell stakes of its joint ventures (JV). SOCAR may put up for sale the shares of a number of its joint ventures, said SOCAR President Rovnag Abdullayev.

State Oil Not Selling Stake In VTB

State Oil Company of the Azerbaijan Republic does not plan to sell its stake in JSC VTB Bank (LSE:VTBR), executive director, Shahmar Movsumov, said during a press conference. "Sanctions have affected the value of the bank's shares, but according to experts, after they are lifted the share price may grow around 25%. SOCAR is a long-term shareholder and does not plan to sell its stake in VTB," Movsumov said.

OMV Petrol Reportedly Attracts Bids

OMV Petrol Ofisi AS has attracted bids from bidders. OMV Aktiengesellschaft (WBAG:OMV) has got initial bids from Vitol S.A. and Trafigura Group Pte. Ltd. for OMV Petrol, people with knowledge of the matter said. Opet Petrolculuk A.S., the State Oil Company of the Azerbaijan Republic and private equity firms are also among the companies that made offers, said the people, who asked not to be identified because the process isn’t public. BP p.l.c. (LSE:BP.) and Saudi Arabian Oil Company are also weighing bids, the people said. No final decision on bids has been made. The sale could fetch $1.2 billion, two of the people said. Bloomberg added that a spokesman for OMV said the process to sell Petrol Ofisi is under way, declining to comment further. Representatives for Opet, Socar, BP, Trafigura and Vitol declined to comment. Representatives for Aramco didn’t immediately respond to requests comment. OMV shares rose 0.9% to €26.49.

Recent Private Companies Transactions

No transactions available in the past 12 months.

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