SOCAR increases transfers to Azerbaijan’s public budget in January-October
Azerbaijan, Baku, Nov.16 / Trend, E.Ismayilov /
The State Oil Company of Azerbaijan (SOCAR) transferred 1.16 billion manat to the public budget in January-October 2012, or 77.1 million manat (7.1 percent) more than the same period of 2011, SOCAR said on Friday.
According to the report, SOCAR transferred 131.58 million manat to the State Social Protection Fund of Azerbaijan in January-October, which is 19.92 million manat (17.8 percent) more than the same period of 2011.
SOCAR includes the Azneft production association (the companies producing oil and gas on and offshore), the Azerkimya industrial association (chemical enterprises) and Azerigaz industrial association (gas distribution).
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 and the Ukraine. Last year SOCAR purchase network of gas filling stations in Switzerland. SOCAR is co-owner of the largest Turkish petrochemical complex Petkim. The company carries out oil trade in various regions of the world through SOCAR Trading.
The official exchange rate is 0.7848 manat to $1 on Nov.16.