SOCAR Trading enters London Market
17.03.2015 13:30
SOCAR Trading has taken another key step in its strategic growth plan by recruiting the traders of Phibro in London.
Following Occidental Petroleum’s announcement in late 2014 of its intention to pull back from proprietary trading of crude oil, SOCAR Trading took the opportunity to recruit Phibro’s London trading team and increase significantly its presence in the London oil market.
This move adds the Phibro team’s expertise and long experience in the key benchmark oil markets to the extensive international presence that SOCAR Trading has established through its crude oil marketing division and its crude oil and oil products trading activities in Europe, Africa and Asia.
It will enable SOCAR Trading, headquartered in Geneva with offices in Dubai and Singapore, to reinforce its positioning as a truly international energy trading company with a key presence in all key oil trading markets.
SOCAR Trading has set up a new entity, SOCAR Trading (UK) Limited, which will start trading in London.
Following Occidental Petroleum’s announcement in late 2014 of its intention to pull back from proprietary trading of crude oil, SOCAR Trading took the opportunity to recruit Phibro’s London trading team and increase significantly its presence in the London oil market.
This move adds the Phibro team’s expertise and long experience in the key benchmark oil markets to the extensive international presence that SOCAR Trading has established through its crude oil marketing division and its crude oil and oil products trading activities in Europe, Africa and Asia.
It will enable SOCAR Trading, headquartered in Geneva with offices in Dubai and Singapore, to reinforce its positioning as a truly international energy trading company with a key presence in all key oil trading markets.
SOCAR Trading has set up a new entity, SOCAR Trading (UK) Limited, which will start trading in London.
CEO of SOCAR Trading, Arzu Azimov, commented: "SOCAR Trading takes another step in its development by entering the Brent/BFOE market with such an experienced team. It has long been our company strategy to expand our geographical presence and to diversify our trading portfolio. This latest step reinforces SOCAR Trading’s position as a truly global and progressive player.”
ANN.Az
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