SOCAR increases contributions to state budget by over 25%
Baku, Azerbaijan, May 14
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan transferred 651.52 million manat to the state budget in January -April 2014, which is 132.65 million manat (25.6 percent) more than in the same period of last year, SOCAR said on May 13.
In 2013 SOCAR transferred 1.57 billion manat to the state budget, which is 149.41 million manat (10.48 percent) more than in the same period of 2012.
SOCAR transferred about 50.22 million manat to the State Social Protection Fund in January-April, which is 0.3 percent more than the same period of last year, according to the report.
SOCAR transferred 162.91 million manat to the State Social Protection Fund in 2013 or by 2.98 percent more than in 2012.
SOCAR includes production association Azneft (companies producing oil and gas on land and sea), Production Association Azerkimya (chemical industry), production association Azerigas (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, Ukraine and Romania. SOCAR possesses a network of petrol stations in Switzerland.
SOCAR is co-owner of the largest Turkish petrochemical complex Petkim.
The official exchange rate is 0.7843 AZN/USD on May 14.