Tag: SOCAR
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SOCAR Star refinery starts phasing out Russian oil – press reports
Press reports by Open Caucus Media state that SOCAR’s Star oil-refinery in the port of Aliaga, Turkey has begun phasing out Russian oil purchases. The oil refinery was previously a significant buyer of Russian crude oil. The decision was taken in response to the US sanctioning of Russia’s oil giants, Lukoil and Rosneft. SOCAR will…
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SOCAR still buying Russian oil at its STAR-oil refinery in Turkey
SOCAR is still buying Russian crude-oil as if it was a normal day at work at their STAR-oil refinery in the Port of Aliaga, Turkey, after the US Treasury Department sanctioned Russia’s oil giants, Lukoil and Rosneft. Last night, the Maltese-flagged tanker Seavelvet (IMO: 9843211) was unloading oil at the STAR Oil Refinery. It initially…
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New trading link between Elctrogas/SOCAR clique and Alkagesta emerges
A new connection between the Electrogas/SOCAR clique of traders and Alkagesta, Malta’s largest oil cargo-trader, has emerged thanks to an indirect link found by oil and energy industry press outlet Euro Asia News. The article notes that Maddox DMCC, a commodity trading company in Dubai, lists Russia as one of its major oil suppliers along…
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SOCAR is still buying Russian crude-oil at its STAR oil-refinery in Turkey
While President Donald Trump was urging countries to stop buying Russian oil, Azerbaijan moved against Adnan Ahmadzada of Alkagesta, signaling to the world that it was cracking down on one of its major traffickers of Russian and illicit oil. This was also before President Ilham Aliyev made amends with Vladimir Putin after Putin apologised to…
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The government is working on gas and energy deals but is refusing to disclose discussions and plans
The government has plans and aims it is working on Malta’s gas-energy situation but it has so far refused to disclose its plans and aims publicly. Natural gas makes up most of the electricity-generation in Malta with up to 60% of the electricity generated in Malta last year coming from the gas-fired power-stations in Delimara…
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Alkagesta: Paying 5% taxes (for producing nothing)
In its last posted accounts for 2022, Alkagesta declared in Malta it made a profit of €42.4 million and paid just just €2.1 million in tax. We could confirm from official sources that Alkagesta is paying the low tax-rate of 5% that applies to foreign companies registered in Malta. Alkagesta is being investigated by both…
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Here’s Adnan Ahmadzada at the inauguration of the Electrogas gas-fired Delimara plant
This article has been updated with further details and clarifications. There is a very interesting photo online that was published by Azer News of Adnan Ahmadzada in Malta at the inauguration of the Delimara gas-fired plant by Electrogas. SOCAR owns up to a third of Electrogas along with Gem Holdings and Siemens. The news article…
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Adnan Ahmadzada arrested in Azerbaijan over oil fraud
Adnan Ahmadzada, the previous chief trader of SOCAR and currently the Chairman of ABDA Invest Holding, has been arrested in Azerbaijan over oil fraud. He is being accused of mixing refined oil products with Russian crude oil – a popular method of fraud in the oil trafficking business. Adnan Ahmadzada is a person of interest…
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Alkagesta pays for a PR campaign in the Maltese press while it is being investigated
Alkagesta is cluttering the internet with articles filled with nonsense that are being published by the local press. Its articles have appeared in The Malta Independent and MaltaToday. I don’t find it surprising that some media outlets, but especially MaltaToday, have preferred to profit from an entity that is being investigated about trading in Russian…
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Blue Rose tanker loads oil from Russia after unloading in Malta
The Blue Rose oil tanker has loaded oil from the Black Sea in Novorossiyk Russia after bunkering and unloading at the oil terminals at Malta’s Freeport for Alkagesta. Alkagesta is currently being investigated by EU and UK authorities for trading oil with Russia’s shadow fleet and it was also involved in trading trafficked Libyan oil…
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Maltese investigators accuse SOCAR Trading of bribing Maltese government officials
Maltese investigators are accusing SOCAR Trading of bribery previous Maltese government officials Keith Schembri (Prime Minister’s chief of staff) and Konrad Mizzi (Minister of Energy). The news came out today in a Times of Malta article revealing conclusions by the Magisterial Inquiry on the Electrogas scandal. No details have been provided so far, however Keith…
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SOCAR Trading SA to be indicted in court over 17 Black
Times of Malta has today revealed that SOCAR Trading SA will be indicted to court over the 17 Black case. 17 Black was a Dubai-based company owned by Yorgen Fenech which was meant to pass bribes of the Electrogas project to government officials including the Prime Minister’s Chief of staff Keith Schembri and Energy Minister…
