The publication cited Socar sources as saying that the company hopes to establish a long-term oil agreement, through which it would supply Rompetrol with one million barrels of light crude a month through Romania’s Constanta port.
In addition, the company source also voiced Socar’s interest in acquiring a stake in a Rompetrol oil refinery. The Turkish Daily News reported the source as telling Reuters that Socar intends to purchase the 25% stake in one of its Rompetrol’s oil refineries that the company is due to sell.
According to the Turkish Daily News, Socar’s participation in the oil-rich Caspian Sea fields has significantly increased the company’s oil production. As a result, the state-owned player is said to be looking to expand its customer base.
Romanian publication HotNews.com cited a Reuters report speculating that Socar’s interest in Rompetrol could also stretch to acquiring a minority stake in the company, but went on to quote a Socar official dismissing these claims.
