SOCAR’s 2013 revenues from its activity in Switzerland increase 9-fold
Baku, Azerbaijan, July 10
By Emil Ismayilov - Trend:
Azerbaijani State Oil Company's (SOCAR) revenues in 2013 from its activity in Switzerland stood at 30.69 billion AZN versus 3.33 billion AZN in 2012, according to a consolidated report on the company's financial performance over the last year.
The compiled report was audited by the EY and posted on SOCAR's website.
In late June 2012, the U.S.-based company ExxonMobil handed over the assets of Esso Switzerland to SOCAR. The total value of assets acquired by SOCAR in Switzerland is $330 million.
Acquiring Esso Switzerland, SOCAR obtained a retail network, the company's division engaged in marketing fuel for industrial and wholesale customers (the division sells household fuel and gas in cylinders to independent distributors throughout Switzerland).
SOCAR also obtained the Wangen Olten gas filling facility, filling stations and joint enterprises engaged in refuelling of aircraft at Geneva and Zurich airports, as well as, a Swiss supply and distribution company, which controls joint ventures operating terminals and pipelines.
SOCAR's 2013 revenues in Azerbaijan amounted to 4.33 billion AZN versus 4.4 billion AZN in 2012.
The revenues of SOCAR from activities in Turkey in 2013 stood at 2.22 billion AZN compared to 1.91 billion AZN in 2012. SOCAR's revenues from activities in the United Arab Emirates totalled 246 million AZN compared to 6.57 billion AZN in 2012, according to the report.
SOCAR's incomes from its activity in Georgia were 635 million AZN versus 627 million AZN in 2012. The company's revenues from other countries in 2013 totalled 313 million AZN compared to 305 million AZN in 2012.
In total SOCAR's 2013 revenues stood at 38.43 billion AZN compared to 17.14 billion AZN in 2012.
SOCAR includes Azneft (a production association of enterprises that produce oil and gas on land and sea), Azerkimya (a production association of chemical industry enterprises) and Azerigas (deals with distribution of gas in the country).
The company also includes a number of processing and service enterprises, and institutions involved in geophysical and drilling operations.
SOCAR is the sole petroleum products manufacturer in Azerbaijan with two oil refineries. The company owns filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
It is also a co-owner of the largest Turkish petrochemical complex Petkim, and other assets in Turkey.
The official exchange rate on July 10 is 0.7844 AZN/USD.
Edited by S.I.