The following timeline sets out key events relating to SOCAR relevant to this website.
SOCAR was formed by Presidential Decree.
Azerbaijan joined EITI.
Sumato Energy Group was awarded a contract on Azeri Light crude from SOCAR.
SOCAR in discussion with a number of trading companies aiming to establish its own trading arm in the format of a joint venture.
SOCAR Trading SA joint venture was established under parent company, Supra Holdings Ltd (Malta). Shareholder structure: 50% SOCAR; 25% Renfrel Holdings (Mr Golovushkin); 25% Heritage General Trading FZE (Mr Alizade). Currently, SOCAR Trading SA is a wholly owned subsidiary of SOCAR Trading Holding Limited (formerly Supra Holding Ltd) which is solely owned by SOCAR.
SOCAR Trading SA required additional financing. Share ownership was restructured in Supra Holding Ltd: 50% SOCAR; 40% Heritage General Trading (Mr Alizade); 10 % Renfrel Holdings (Mr Golovushkin)
On top of additional share capital contribution, Mr Alizade provided SOCAR Trading with an unsecured loan.
SOCAR Petroleum initiated operation of petrol stations.
UGE-Lancer was awarded a production sharing agreement for the Balakhani oilfield.
SOCAR Trading SA repaid Mr Alizade’s 2010 loan in full.
SOCAR Trading SA distributed dividends between the shareholders in accordance with their ownership stake. SOCAR Group established SOCAR International DMCC (UAE). Shareholder structure: 50% SOCAR, 50% Petroline DMCC (Mr Alizade).
Fujairah storage terminal joint venture established. Shareholder structure: 45% SOCAR International DMCC (22.5% SOCAR and 22.5% Petroline DMCC); 45% Middle East partner; 10% Fujairah Petroleum Company.
Phase I of Fujairah Terminal completed.
SOCAR bought back all shares in SOCAR Trading SA (through purchase of the shares in Supra Holding Ltd).
SOCAR International DMCC distributed dividends to SOCAR and Petroline DMCC. Mr Alizade reinvested 90% of his share of the dividends back into the company.
New EITI standard was adopted.
SOCAR International DMCC distributed dividends to SOCAR and Petroline DMCC (Mr Alizade). Petroline DMCC also received the remaining 90% of dividends it had reinvested in the company in 2012.
SOCAR and Mr Alizade signed a share purchase agreement. SOCAR bought back all shares in SOCAR International DMCC.
Phase II of Fujairah Terminal completed.
SOCAR purchased the remaining 49% ownership of SOCAR Petroleum through the acquisition of A.P. International.
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