Azerbaijani State Oil Company Plans to Transfer AZN 1bln to Public Budget

Business Materials 5 October 2007 18:39 (UTC +04:00)

Azerbaijan, Baku / corr. Trend A. Badalova / The State Oil Company of Azerbaijan (SOCAR) is planning to transfer AZN 1.15bln to the public budget in taxes, Suleyman Gasimov, SOCAR Vice President on economic issues, said on 5 October.

SOCAR produces nearly 9mln t of oil and 4-5bln cu m of gas a year.

According to Gasimov, as of result of the first nine months of 2007, SOCAR is behind the tax remmitance target by AZN 21-22 mln.

"We will fulfill the forecast set by the Finance Ministry," he said.