SOCAR ups contributions to Azerbaijani state budget and social protection fund

Oil&Gas Materials 15 March 2012 17:06 (UTC +04:00)

Azerbaijan, Baku, March 15 / Trend E.Ismayilov /

SOCAR transferred more than 195.8 million manat to the state budget in January and February, or 10.98 million manat (5.9 percent) more than the same period of last year, SOCAR said on Thursday.

According to the information, SOCAR transferred 23.72 million manat to the State Social Protection Fund in January or more than 3.43 million manat (16.9 percent) than the same period of last year.

SOCAR includes production association Azneft (companies producing oil and gas on land and sea), Azerkimya (the chemical industry) and Azerigas (gas distribution).

The company is the only producer of oil products in the country having two oil refineries and also owns gas stations in Azerbaijan, Georgia, Ukraine and Romania. It bought a large network of filling stations in Switzerland last year. SOCAR is also a co-owner of the largest Turkish petrochemical complex Petkim. The company carries out oil trade in various regions of the world under the banner of SOCAR Trading.