SOCAR to go on spot supplies to Ukraine’s refinery

Baku, Fineko/ State Oil Company of Azerbaijan (SOCAR) is to continue oil supplies to Kremenchug oil refinery based in Ukraine.

SOCAR vice president Elshad Nasirov says that three shipments have been already delivered to this Ukrainian refinery.

“So far all supplies were of spot character and a contract was signed on each vessel. Kremenchug refinery provides trading for our Socar trade house, while Geneva price parameters which are under consideration. If on the day of shipment dispatch another party does not acquire the vessel shipment at the price to exceed the Ukrainian price, then we sell oil to Ukrainians. A contract is signed, and there provided banking guarantees, L/Cs, a contract with the vessel, the vessel owner, broker and only after that the tanker sets sail to the port of delivery,” Nasirov said.

SOCAR does not interfere into the situation around this refinery.

“This is Ukraine’s internal policy. We sell oil not to any political party, a group or a group of persons in the Ukraine. We sell it to the refinery for making high-quality oil products for the Ukrainian people,” Nasirov said.



20.11.2009 16:30


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