SOCAR reduces payments to Azerbaijan’s state budget

Economy Materials 12 January 2016 17:51 (UTC +04:00)

Baku, Azerbaijan, Dec.12

By Maksim Tsurkov - Trend:

Azerbaijan's State Oil Company (SOCAR) transferred 1.48 billion manats (AZN) to the country's state budget in 2015 versus 1.86 billion manats in 2014, SOCAR said Dec.12.

In December 2015, SOCAR transferred 75.32 million manats to the state budget.

SOCAR transferred 139.29 million manats to Azerbaijan's State Social Protection Fund in 2015 versus 141.24 million manats in 2014.

SOCAR includes production associations: Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical industry enterprises) and Azerigas (gas distribution).

SOCAR is the sole producer of oil products in Azerbaijan. It has two oil refineries on its balance sheet, and also owns filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.

SOCAR is also a co-owner of the largest Turkish petrochemical complex, Petkim.


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