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Russia’s Rosneft, Azerbaijan’s SOCAR to develop mutual oil supplies, swap operations

August 13, 2013, 21:26 UTC+3

According to Rosneft CEO Igor Sechin, Azeri oil will not be supplied to the Tuapse refinery in Russia

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BAKU, August 13 (Itar-Tass) - Russia’s oil major Rosneft and the State Oil Company of Azerbaijan Republic (SOCAR) are planning to carry out mutual oil supplies, make swap deals and use joint infrastructure, Rosneft CEO Igor Sechin told journalists on Tuesday.

“We are planning to develop several projects, namely joint supplies, swap operations, and possible joint use of infrastructure,” he said. “In a long-time perspective, we shall be more active in the area of trading.”

When asked where Azeri oil might be exported, Sechin said the company had a number of refineries in Southern Europe and shares in refineries on Sicily and in southern Germany.

“Today, we buy Azeri Light and supply it to these assets,” he noted. “We would like this business to be more systemic.”

According to Sechin, Azeri oil will not be supplied to the Tuapse refinery in Russia. “So far, we are not looking at supplying Azeri oil to Tuapse,” he said.

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