SOCAR increases payments to Azerbaijan’s state budget by almost 15 per cent
Azerbaijan, Baku, Oct. 11 /Trend E.Ismayilov/
In January-September 2013, the State Oil Company of Azerbaijan Republic (SOCAR) made payments to Azerbaijan's state budget, in the amount of 1.18 billion manats, which is 151.24 million manats (14.6 per cent) more than the figures for the same period of 2012, SOCAR said on Friday.
In 2012, SOCAR made payments to the state budget in the amount of over 1.4 billion manats, which is almost 90 million manats (6.7 per cent) more than the figures for 2011.
In January-September, SOCAR made payments to the State Fund of Social Protection of Azerbaijan in the amount of 120.11 million manats, 1.2 per cent higher than the figures in January-September of 2012, SOCAR said.
Last year SOCAR in general made payments worth 157.5 million manats to the State Fund of Social Protection, almost 23 million manats (17.1 per cent) more than in 2011.
SOCAR includes Azerneft (companies producing oil and gas on land and sea), Azerkimya (chemical industry enterprises), and Azerigaz (gas distribution) production associations.
SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet), and owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
SOCAR is the co-owner of the largest Turkish petrochemical complex - Petkim.
The official exchange rate on Oct. 12 is 0.7843 AZN/USD.