Georgian Oil & Gas Corporation, GOGC, 100% owned by the state-owned Partner Fund JSC, established a subsidiary company of GOGC Trading S.A. in Switzerland for trading in the international market.
According to GOGC, the subsidiary will sell oil and oil products, as well as provide logistics for transporting oil through Georgia.
“At this stage, GOGC Trading is in the process of being formed, negotiations and consultations are underway with future trading and financial partners to determine the functions of the company and specific areas of cooperation,” the corporation noted.
* GOGC was established in March 2006 through the merger of Georgian Oil International Corporation JSC, Georgian Gas International Corporation JSC and Gruzneft JSC. In 2012, a 100% stake in GOGC was transferred to the Partnership Fund JSC by the decision of the Georgian government.
