Baku, Azerbaijan, Nov. 14
By Emil Ismayilov - Trend:
SOCAR (State Oil Company of Azerbaijan) increased contributions to the state budget by 18.2 percent to 1.56 billion AZN in January-October 2014 compared to the same period of last year, SOCAR said Nov. 13.
SOCAR transferred 1.57 billion AZN in 2013 or by 149.41 million AZN (10.48 percent) more than in 2012.
SOCAR transferred 118.92 million AZN to the Azerbaijani State Social Protection Fund in January-October.
SOCAR's contributions to the State Social Protection Fund amounted to 162.91 million AZN in 2013 or by 2.98 percent more than in 2012.
SOCAR includes Azneft (production association of companies producing oil and gas on land and sea), Azerkimya (production association of chemical industry enterprises) and Azerigaz (production association of gas distribution enterprises).
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, Romania, and Switzerland.
SOCAR is co-owner of the largest Turkish petrochemical complex Petkim.
The official exchange rate is 0.7843 AZN/USD.
edited by CN