Baku, Azerbaijan, July 1
By Maksim Tsurkov - Trend:
SOCAR's revenues received in 2014 as a result of the activity in Switzerland amounted to 31 billion manats compared to 30.69 billion manats in 2013, said the consolidated report of financial activity of SOCAR for 2014, published on its website.
The financial activity report was audited by Ernst&Young.
SOCAR signed an agreement with Exxon Mobil in June 2012 to acquire its Swiss branch called Esso Schweiz GmbH. The total cost of the assets acquired by SOCAR in Switzerland is $330 million.
With the acquisition of Esso Schweiz, SOCAR received the retail network, the company's division for marketing of fuel for industrial and wholesale customers (the division sells household fuel and bottled gas to independent distributors throughout Switzerland).
SOCAR has also taken over the Wangen-Olten gas station group and a number of others as well as joint ventures specializing in aircraft refueling at Geneva and Zurich airports and the Swiss Provision and Supply Company that controls joint ventures managing terminals and pipelines.
SOCAR's revenues, obtained in 2014 in Azerbaijan amounted to 4.68 billion manats compared to 4.33 billion manats in 2013.
The report said that SOCAR's revenues within the framework of activity in Turkey in 2014 amounted to 2.2 billion manats compared to 2.22 billion manats in 2013.
SOCAR's revenues from activity in the United Arab Emirates totaled 697 million manats compared to 246 million manats in 2013.
SOCAR's revenues from the activity of in Georgia totaled 680 million manats compared to 635 million manats in 2013.
In other countries, SOCAR's revenues in 2014 amounted to 419 million manats compared to 313 million manats in 2013.
In total on the results of 2014, SOCAR's revenues amounted to 39.67 billion manats compared to 38.43 billion manats in 2013.
SOCAR includes production associations Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical industry enterprises) and Azerigaz.
The company also has a number of processing enterprises, service enterprises, and institutions involved in geophysical and drilling operations.
SOCAR is the sole producer of oil products in Azerbaijan. It has two oil refineries and filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
SOCAR is the co-owner of the largest Turkish petrochemical complex, Petkim, and other assets in Turkey.
---
Follow the author on Twitter: @MaksimTsurkov