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Wednesday, November 16, 2011

Azeri oil company buys Exxon Swiss unit, (TSE: CEK.TO)

ExxonMobil has agreed to sell its Swiss fuel supply business, Esso Schweiz, to Azeri national oil company SOCAR, giving the Caspian energy power access to end-users in Europe. After a year's transition, SOCAR will sell refined fuels at former Esso forecourts rebranded with SOCAR's own name, SOCAR said in a statement.

Caspian Energy Inc. is a Canada-based company engaged in oil and gas exploration in the Republic of Kazakhstan (Kazakhstan). Shares of CEK remained unchanged at $0.10. In the past year, the shares have traded as low as $0.10 and as high as $0.28. On average, 134130 shares of CEK.TO exchange hands on a given day and today's volume is recorded at 0.