SOCAR to aggressively develop Swiss market

The State Oil Company of Azerbaijan (SOCAR) said it plans to operate 160 service stations under its own brand by the middle of 2013. In June, SOCAR acquired ExxonMobil’s Esso Switzerland’s assets, with a total value of US$330 million. With the acquisition, SOCAR took over Esso Switzerland’s retail network of 170 filling stations.
It has also taken over the Wangen-Olten gas station, a number of other filling stations, as well as joint ventures that specialize in aircraft fuelling at the Geneva and Zurich airports. In addition, the Swiss Provision and Supply Company, which control the joint venture’s managing terminals and pipelines, had also been acquired by SOCAR. (November 24, 2012)