Azeri fossil-fuel cash cow brings controversy to Switzerland

Socar, Azerbaijan’s state energy company, is a key source of public funding for the country. It also relies heavily on business in Switzerland, where it has not escaped scrutiny. As another petrostate playing host to the United Nations climate conference (COP29), the central Asian country of Azerbaijan is being entrusted to forge international agreements over decisive issues such as climate finance and transparency in carbon markets. Its state oil-and-gas company, a backbone of the country’s economy, has meanwhile built a solid if controversial business presence in Switzerland. With roughly 200 Socar petrol stations located throughout the Alpine country, Swiss drivers are familiar with their green, red and blue logo. Some may also have loyalty cards for the Migros retail chain handy when picking up a few last-minute groceries at the pumping stations’ Migrolino shops, due to a franchise agreement with Azerbaijan’s state energy company. But Socar, the Azeri company, has also been ...