Azerbaijan, Baku, July 29 / Trend E. Ismayilov /
SOCAR's revenues, obtained in Azerbaijan in 2011, amounted to 4.14 billion manat compared to 3.46 billion manat in 2010, the consolidated report about SOCAR's financial activity in 2011, audited by Ernst & Young said. A report was published on the company's website on Saturday.
According to the report, SOCAR's revenues within Turkey's activity amounted to about 1.85 billion manat compared to more than 1.58 billion manat in 2010. For the first time SOCAR earned more than 1.32 billion manat from the activity in the United Arab Emirates in 2011. SOCAR's income from the activity in Georgia amounted to 679.15 million manat compared to 459.09 million manat in 2010.
As of 2011, SOCAR's income exceeded 8.13 billion manat, increasing by 1.47 times.
SOCAR's capital costs in 2011 within its activity in Azerbaijan and abroad amounted to more than 2.44 billion manat compared to 1.68 billion manat in 2010. The biggest amount of SOCAR's capital expenditures last year fell to the activity in Azerbaijan and reached 2.26 billion manat, increasing by 39.5 percent compared to the previous year.
SOCAR's capital expenditures in Georgia amounted to 59.83 million manat, in Turkey - 103.46 million manat, other countries - 21.62 million manat.
SOCAR includes Azneft, which produces oil and gas onshore and offshore), the Azerkimya industrial association, a chemical enterprise, and Azerigaz industrial association, a gas distributor.
SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet) and also owns petrol stations in Azerbaijan, Georgia, Ukraine and Romania. SOCAR possesses a network of petrol stations in Switzerland. SOCAR is co-owner of the largest
Turkish petrochemical complex Petkim.
The official exchange rate is 0,7856 AZN/USD on July 28.
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