SOCAR fulfills annual forecast for payments to state budget by 97 percent
Azerbaijan, Baku, Dec. 12 / Trend, J. Nasibova /
The State Oil Company of Azerbaijan (SOCAR) transferred 1.287 billion manat to the public budget in January-November 2012, or 77.18 million manat more than the same period of 2011, SOCAR said today.
According to the report, SOCAR transferred 144.56 million manat to the Azerbaijani State Social Protection Fund in January-November, which is 21.73 million manat (17.7 percent) more than the same period of 2011.
The payments transferred from consolidated taxes and other payments (excluding income tax) through SOCAR in 2012 to the state budget are projected at 1.321.6 billion manat.
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 official exchange rate is 0.7849 manat to $1 on Dec. 12.