LNG

SOCAR to refocus trading from fuel oil to LNG

SOCAR is refocusing its trading arm’s activities on LNG and its new refinery in Turkey following weak trading profits.
By Staff reporter 20 July 2018 0 31827

State Oil Company of Azerbaijan Republic is refocusing its trading arm’s activities on LNG and its new refinery in Turkey following weak trading profits, Reuters reported on Wednesday.

The company plans to stop trading fuel oil by the end of this year, partly because of the International Maritime Organization’s pollutant reduction targets, which will take effect in 2020.