SOCAR Trading wins tender to purchase Turkmen oil from Petronas

SOCAR Trading, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), won the tender to purchase Kiyanly crude oil produced by PETRONAS in Turkmenistan.

The long-term deal for two years with a possibility for extension secures the delivery of approximately a million tons per year.

The agreement will provide about 1 million tons of crude oil a year from Turkmenistan.

Overall, annual volumes of various crude grades contracted for delivery via BTC by SOCAR Trading in the Caspian Sea region from Turkmenistan, Russia, and Kazakhstan amount to over four million tons a year.