Middle East Economic Survey
Socar Buys Esso Retail Network in Switzerland
Azerbaijans state firm Socar on 16 November announced an agreement with ExxonMobil for the acquisition of Esso downstream assets in Switzerland. Trading subsidiary Socar Trading has long been based in Switzerland, but this is Socars first major downstream acquisition anywhere in Europe. The buy-out, which will be completed in 3Q12, will give Socar access to over 170 filling stations...