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Wednesday, May 09, 2007

SOCAR eyes Indian oil deal

07 May 2007 - Reuters - Azerbaijan's state oil firm SOCAR is close to signing a contract with a major Indian oil company on direct crude oil supplies to one of the firm's refineries, a Socar official said Friday. The official said SOCAR's Azeri Light crude would be shipped to India from Turkey's Mediterranean port of Ceyhan, where Socar delivers its crude via a pipeline from Baku. "A contract will be signed in the near future with a big Indian company to supply SOCAR's crude, transported via a pipeline to Ceyhan from Baku, to the company's refineries," the official said. He did not disclose the name of the company, saying the talks were confidential. The official also said Socar was holding similar talks with oil companies in North and South America, China, Japan and some Mediterranean countries.

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