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Friday, March 14, 2008

Socar makes plans to cash up

11 March 2008 - Upstream OnLine - Azeribaijan's state-run oil producer Socar plans to raise between $300 million and $500 million through its debut Eurobond issue early next year, company vice-president Suleiman Gasymov said today. Gasymov told Reuters he expected US markets to be the main participants in the issue. He said Socar would be ready for the issue in the first quarter of next year after preparing its results to international standards for two years.

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