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Europe increased imports of Azerbaijani oil by more than 3%

SOCAR: Information in foreign media on refusal of the Azerbaijani oil has no grounds

Baku. 31 August. REPORT.AZ/ Information in foreign media on reducing the demand for crude oil belonging to the State Oil Company of Azerbaijan in the international markets has no grounds.

Report was told in SOCAR: "This information was refuted by current trends and actual sales figures".

"There has always been a high demand for Azeri oil on the international market, and both Western and Eastern countries are showing a strong interest in SOCAR crude oil. For example, if in January-June 2014 the volume of crude oil sold to Israel totaled 1.17 million tons in first seven months of 2015 this figure is almost unchanged at 1.16 million tons. At the same time, the volume of oil sales to Europe grew by 340 thousand tons, or 3.4% and amounted to 10.3 mln tons ", the company said.

SOCAR also says that, information about the alleged refusal of Israel and Europe from the Azerbaijani oil and as an alternative to oil imports from West Africa is also in doubt: "The purchase of oil from Africa in terms of costs for the transportation of crude oil will be disadvantageously for European buyer compared to Azerbaijan. Currently, importers not interested in raising costs, including the transportation of crude oil."

"In addition, we should not forget that SOCAR sells only 70-75% of the exported oil from Azerbaijan, the rest comes from other companies," said the company.

At the same time, the expert of SOCAR said that SOCAR, for several years engaged in trader activities at international market of crude oil, besides Azerbaijani oil as a mediator offers to potential customers oil that is produced in other countries, including in Africa: "The positive dynamics of financial indicators in trader activity is proof of a rational and effective operation of SOCAR in this direction."

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