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SOCAR buys Glusco petrol station chain from Medvedchuk—media

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Azerbaijani SOCAR supplies Russian oil products to Ukraine. Photo: Pixabay

Azerbaijani SOCAR supplies Russian oil products to Ukraine. Photo: Pixabay

Azerbaijani oil company SOCAR is ready to buy the Glusco petrol station chain. The management of the company and the owner of Glusco are in the final stages of negotiations on the sale, specialized publication enkorr reported, citing its own sources. The Glusco petrol station chain is closely tied to Viktor Medvedchuk.

According to the publication, the owner of Glusco, Nisan Moiseev, put the chain up for sale immediately after Rosneft had announced the termination of the oil products supply to Ukraine. The source told the publication that only international companies received offers to buy the chain—they were not sent to the Ukrainian ones.

Another source suggested that the sale of Glusco is an element of the scheme that also includes the contract between SOCAR and Rosneft on the supply of oil products to Ukraine. The Glusco chain, he said, fits well into the structure of the Azerbaijani company.

The publication added that negotiations on the sale of Glusco may be completed in the coming week. After that, the deal must be approved by the AMCU.

Context. In mid-May, a company from the Azerbaijani state group SOCAR became an export operator of Rosneft's oil products to Ukraine. According to the data releases, SOCAR has a quota for more than 100,000 tons of diesel fuel and 12,000 tons of liquefied gas.

The Swiss trader Proton Energy Group SA previously stopped fuel supplies to Ukraine. Proton Energy controls the Glusco petrol station chain through Nisan Moiseev. Both companies are associated with Putin's relative Viktor Medvedchuk, against whom Ukraine imposed sanctions.

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