History

Headquartered in Geneva, SOCAR Trading was established in December 2007 as the marketing arm of the State Oil Company of Azerbaijan Republic (SOCAR).

SOCAR Trading is unique: it enjoys the advantages of being a wholly-owned state entity combined with the independence and global presence of a major commodities trading company based in Switzerland.

While the company continues to market the bulk of SOCAR crude oil export volumes from Ceyhan port in Turkey, it has also been able to develop significant third party volumes through both leveraging its system barrels, as well as its experienced traders developing new business.

Since 2017, SOCAR Trading has invested into the development of LNG and Gas trading capabilities with the carbon trading desk set up in 2021. Today, SOCAR Trading is the global trading house with offices in five major trading hubs and crude oil, refined products, LNG, natural gas and environmental products trading capabilities. Besides its trading activities SOCAR Trading has relationships with SWIFT and more than 40 banks in Europe, Asia and US.

SOCAR Group

SOCAR Trading S.A. is a 100%-owned subsidiary of SOCAR, the national oil company of Azerbaijan, which has a presence across the value chain with assets and activity in exploration and production, pipelines and exports, refining and petrochemicals, logistics and wholesale, and retail and distribution.

Our Mission, Vision and Values

We are committed to enhancing positive and reducing negative impacts on environment, society, and our stakeholders by integrating the responsible business approach into all our operations and strategic objectives. Our mission, vision, and values shape our strategic trajectory and are an indispensable part of our organizational identity.

RESPECT ...for ourselves, our colleagues, our clients, our business partners, and everyone with whom we come into contact in the course of our work. By respecting people for who they are, we build trust, promote safety, and nurture wellbeing. ETHICS This goes beyond acting within international laws and regulations and extend to acting with responsibility, integrity, honesty, trust, openness, fairness, and transparency. SOCIAL RESPONSIBILITY Ensuring we operate with care for the societies and environments that we affect in our working lives. EXTERNAL STAKEHOLDERS Ensuring that all our interactions with local communities are respectful and considerate of the impacts we have on the wider society. MISSION VISION To meet our financial, social and environmental targets by recruiting and nurturing exceptional talent To create and maintain a culture of doing business the right way OUR VALUES

Timeline of SOCAR Trading

2023

Trade Finance secures its RCF with a 50% oversubscription thanks to the existing lenders and the addition of new lenders both from Europe and the Middle East.

2021

First ESG report released and Carbon Trading desk established.

2021

A new physical Nat Gas trading desk established in Geneva focussing on 3rd party and Azeri flow in the European region.

2016

Houston office opened supporting SOCAR Trading strategy on the global crude supply chain.

2015

Trade Finance successfully put in place its first Revolving Credit Facility (the “RCF”)

2014

SOCAR Trading entered into a joint venture with Chinese state-owned companies to develop the STAR Refinery in Turkey, which would process Azerbaijani crude oil.

2013

Dubai office was opened to act as a regional hub and global support centre.

2012

SOCAR Trading further diversified its trading portfolio, including the trading of liquefied natural gas (LNG) which coincided with the opening of the London office.

2010

SOCAR Trading expanded its activities to include not only Azerbaijani crude oil but also other energy commodities increasing headcount to 55 in Geneva and made initial steps toward expanding its presence in Asia by establishing an office in Singapore.

2008

SOCAR Trading is established as a subsidiary of SOCAR, the national oil company of Azerbaijan. It is headquartered in Geneva, Switzerland, Starting with just 12 employees.

2023

Trade Finance secures its RCF with a 50% oversubscription thanks to the existing lenders and the addition of new lenders both from Europe and the Middle East.

2021

First ESG report released and Carbon Trading desk established.

2021

A new physical Nat Gas trading desk established in Geneva focussing on 3rd party and Azeri flow in the European region.

2016

Houston office opened supporting SOCAR Trading strategy on the global crude supply chain.

2015

Trade Finance successfully put in place its first Revolving Credit Facility (the “RCF”)

2014

SOCAR Trading entered into a joint venture with Chinese state-owned companies to develop the STAR Refinery in Turkey, which would process Azerbaijani crude oil.

2013

Dubai office was opened to act as a regional hub and global support centre.

2012

SOCAR Trading further diversified its trading portfolio, including the trading of liquefied natural gas (LNG) which coincided with the opening of the London office.

2010

SOCAR Trading expanded its activities to include not only Azerbaijani crude oil but also other energy commodities increasing headcount to 55 in Geneva and made initial steps toward expanding its presence in Asia by establishing an office in Singapore.

2008

SOCAR Trading is established as a subsidiary of SOCAR, the national oil company of Azerbaijan. It is headquartered in Geneva, Switzerland, Starting with just 12 employees.

map-new Houston London Geneva Dubai Singapore

Offices

SOCAR Trading relies on its 5 main trading offices strategically located in international trading hubs Geneva, London, Singapore, Dubai and Houston.

As a global trading hub and a home to its head office, Geneva is the centre of SOCAR Trading’s operations. This allows the company to pick top talent from a large pool of professionals in all trading functions, in addition to being able to maintain strong relationships with financial institutions and other business partners.

Company managed to diversify its portfolio by investing in low carbon commodities and to expand the markets where we operate.

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