The State Oil Company of Azerbaijan Republic, largely known as SOCAR is fully state-owned national oil and gas company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani segment of the Caspian Sea.
SOCAR, the State Oil Company of Azerbaijan, Kazakhstan’s “KazMunayGas, Russia’s “Tatneft,” and Uzbekistan’s “Uzbekneftegaz” have signed quadrilateral and bilateral documents on the sidelines of the international conference on “Digitalization, Industrial Safety, and Procurement in the Energy Sector”.
Azerbaijan's SOCAR halts Russian crude supplies to Turkish refinery. Private Russian oil producer Lukoil will lend Azeri state oil firm Socar $1.5 billion as part of a broader deal that will allow Socar's 200,000-barrel-per-day Turkish STAR refinery to process Russian crude again. 28.09.2023: The secondary legal entity (LLC "CHERNOMORSERVIS") was liquidated but the key one (LLC "SOCAR RUS") is doing business as usual. At the end of August 2024, Russia (Gazprom) and Azerbaijan (SOCAR) agreed to develop gas cooperation and expand strategic partnership, but specific projects have not been announced yet. Among the public procurement tenders, the company has such customers as the Russian Guard and Russian military units. Slovakia's Slovensky Plynarensky Priemysel (SPP) is in talks with Azerbaijan's state oil company SOCAR on gas purchases.