SOCAR increases contributions to state budget by 26 percent in January-May
Azerbaijan, Baku, June 13 / Trend E. Ismayilov /
SOCAR made contributions worth over 652.9 million manat to the state budget in January-May 2013, which is 135.12 million manat (26.1 percent) more than the same period in 2012, SOCAR said on Wednesday.
SOCAR made contributions worth more than 1.4 billion manat to the state budget in 2012, which is almost 90 million manat (6.7 percent) more than in 2011.
According to the report, SOCAR transferred 63.39 million manat to the State Social Protection Fund in January-May.
SOCAR transferred 157.5 million manat to the State Social Protection Fund in 2012, which is almost by 23 million manat (17.1 percent) more than in 2011.
SOCAR includes the Azneft production association (company producing oil and gas onshore and offshore) and the Azkimya production association (chemical industry) and the Azerigaz production association (gas distribution).
SOCAR is the only producer of oil products in the country with two refineries on its balance sheet and also owns petrol stations in Azerbaijan, Georgia, Ukraine and Romania, Switzerland.
SOCAR is a co-owner of the largest Turkish petrochemical complex Petkim.
The official exchange rate is 0,7846 AZN/USD on June 13.