Assets bought in Switzerland to pass under SOCAR’s control in summer

Azerbaijan, Baku, May 25 / Trend E. Ismayilov / Assets bought by SOCAR in Switzerland will pass to its control on June 30, President Rovnag Abdullayev told media today. He said that purchasing these assets was a very profitable bargain. Currently, the work is underway to start SOCAR's activity on the Swiss market. Abdullayev said SOCAR also considers various options for the company's participation in other projects abroad, particularly in Germany, Italy and other countries. "While examining these markets, first, the profitability of considered assets is under consideration," he said. SOCAR signed an agreement with Exxon Mobil in November last year to acquire its Swiss branch called Esso Schweiz GmbH. The company will operate under Esso brand within 12 months after the owner is changed. SOCAR has also taken over the Wangen-Olten gas station, and a number of gas stations and joint ventures specialised in aircraft fuelling at the Geneva and Zurich airports and the Swiss Provision and Supply Company that controls joint ventures managing terminals and pipelines. Do you have any feedback? Contact our journalist at agency@trend.az