Global law firm Norton Rose Fulbright has advised UniCredit Bank Austria AG (“UniCredit”) on a €250m trade financing to Socar Trading Group (“Socar”). Headquartered in Geneva, Switzerland, Socar trades and distributes crude oil worldwide. It was incorporated in 2007 and it has trading offices in Geneva, London, Singapore, and Dubai; representative offices in Cairo, Istanbul, Lagos, and Monaco; and an oil products storage terminal in Fujairah, United Arab Emirates. It operates as a subsidiary (marketing arm) of the State Oil Company of the Azerbaijan Republic.

The Norton Rose Fulbright team, was led by Arturo Sferruzza, partner based in Milan and head of Banking and Energy in Italy, and comprised Matthew Escritt, partner based in Dubai, as well as Marcello Ciampi, senior associate, and Douglas Pontin, international trainee. Studio Legale Barchi Nicoli Trisconi e Associati, a law firm based in Lugano, advised on matters of Swiss law.