SOCAR’s deductions to Azerbaijan's state budget increase by more than a quarter
Baku, Azerbaijan, June 12
By Emil Ismayilov - Trend:
State Oil Company of Azerbaijan (SOCAR) transferred 822.66 million manats to the state budget in January-May 2014 or 169.75 million manats (26 percent) more compared to the same period of 2013, SOCAR said on June 11.
SOCAR transferred 1.57 billion manats to the state budget in 2013 or by 149.41 million manats (10.48 percent) more than in 2012.
SOCAR transferred about 61.4 million manats to the State Social Protection Fund in January-May.
Some 162.91 million manats were transferred to the State Social Protection Fund in 2013 or 2.98 percent more than in 2012.
SOCAR includes Azneft (enterprises producing oil and gas on land and sea), Azerkimya (chemical industry enterprises) and Azerigaz (deals with gas distribution) production associations.
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 0.7842 AZN/USD on June 12.
edited by CN