Azerbaijan's State Oil Company SOCAR Exits Russia

Azerbaijan's state oil company SOCAR is ceasing its participation in the management program of the Antipinsky Oil Refinery. This was reported by Infoteka24.

The Azerbaijani organization will not participate in the auction for the sale of the assets of the Antipinsky Oil Refinery LLC, which is associated with the bankruptcy of the plant, citing that it falls outside its strategic interests.

According to Azerbaijani sources, the reason for this decision is Russia's tax policy regarding oil refining, but it is also possible that the decision has political implications given the disagreements between Baku and Moscow in the context of the Nagorno-Karabakh conflict.