OREANDA-NEWS. July 20, 2012. A systematic slanderous campaign by some malevolent forces, which envy successful strategic projects carried out by SOCAR inside the country and abroad and growing international influence of the company, is instigated these days again for damaging the company’s business image.

 As a part of this campaign, unskilled, groundless and faked “analyses” are conducted, and false “results” of these “analyses”, which can not stand any criticism, are published by the press serving the interests of forces not corresponding with the general development course of our country, and intending to damage the growing international influence of SOCAR by misleading the public opinion. SOCAR states that dirty plans of those forces will be as always denounced both in the territory of the Republic of Azerbaijan and the other countries, and adequate measures will be taken against them in the framework of the norms of international law. We make following statement to prevent the attempts to deceive the large community:

Having achieved great successes in regional and global oil and gas projects carried out in Azerbaijan, SOCAR approved itself in the international arena as a strong, modern and competitive organization and is steadily entering the world market. Founding SOCAR Trading SA, SOCAR’s joint trading company in Geneva, Switzerland in December, 2007 for independent transportation of large volumes of Azerbaijan-produced crude oil to the world market and providing flexible export, was a remarkable event from this point of view. It is no coincidence that this trading company, which serves the interests of Azerbaijan and contemplates marketing of Azeri Light crude, increasing its competitiveness in the world market, delivering it to the end consumers, as well as purchase and sale of non-Azerbaijani crude oil and oil products, was founded in Geneva and inaugurated in April, 2008. Geneva is one of the main business centers in Europe and head offices and representations of oil industry, financial and banking sectors are located just in this city. Further successful activity of SOCAR Trading SA proved correctness of this choice. The SOCAR’s joint trading venture achieved its goals in a short time, within four years, gained large international influence and extended the sphere of activity.

SOCAR Trading SA was founded by Supra Holding Limited, 50 percent of which shares were earlier owned by SOCAR and now this figure reached 80 percent. There are no and there has never been any individual among the founders of SOCAR Trading SA and Supra Holding Limited and the individuals mistakenly introduced by some sources as the founders of SOCAR Trading SA are in fact the members of the company’s governing board. Some of them hold senior positions in that company and the others in SOCAR and they are represented in the SOCAR Trading SA’s Board of Directors. As to Deputy CEO of SOCAR Trading SA Zaur Gahramanov, he is neither a company’s founder, nor a member of the governing board. Deliberate introduction of the persons participating in the company’s governance as the “representatives” shows inexperience and malicious intentions of those “analysts”.

To expand the sphere of its activity, SOCAR Trading SA opened its subsidiary enterprises in the different parts of the world and information about these enterprises is easily available on the company’s website. Execution of trading operations via such subsidiary enterprises is an internationally accepted practice.

SOCAR Black Sea company was founded by SOCAR Trading SA and Ukraine-based ROSSIM for widening SOCAR’s export operations and transportation of oil products to Ukraine. Obviously there are no individuals among the founders of this company too.

Finally, as is known to the large community, last year SOCAR conducted a successful purchase and sale operation and acquired shares of Esso Schweiz GmbH, Exxon Mobil affiliate in Switzerland. SOCAR’s wholly-owned SOCAR Energy Switzerland Holding SA was established to conduct this operation. In other words, SOCAR was in founder capacity. Payment for purchasing Esso Schweiz CmbH shares was transferred from the SOCAR’s banking account and described in the company’s financial reports.

It should be noted that an alliance deal was signed with Migros, world-known food retailer, for the management of stores located in the territory of fuel stations passed into SOCAR Energy Switzerland Holding SA assets in accordance with the purchase and sale agreement. This company proved itself in this field and it made the Swiss community to welcome this novelty by the SOCAR Energy Switzerland Holding SA.

In the end, we have to notice that information about this and other investment projects
carried out by SOCAR in Switzerland was placed on SOCAR Trading SA website and is completely open to the public.