SOCAR’s transfers to state budget decrease

Oil&Gas Materials 12 January 2017 11:19 (UTC +04:00)

Baku, Azerbaijan, Jan. 12

By Maksim Tsurkov – Trend:

Azerbaijan’s state oil company SOCAR transferred 1.395 billion manats to the state budget in 2016, as compared to 1.48 billion manats ($1=1.7742 AZN on Jan. 12) in 2015, SOCAR said in a message.

The company transferred 1.86 billion manats to the state budget in 2014.

SOCAR transferred 129.056 million manats to the state treasury in December 2016 that is by 71.3 percent (or 53.736 million manats) more than a year before.

In January-December 2016, SOCAR transferred 144.417 million manats to the country’s State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of Population that is by 3.7 percent (or 5.119 million manats) more than in 2015.

SOCAR transferred 139.29 million manats to the SSPF in 2015, as compared to 141.24 million manats in 2014.

The company transferred 12.666 million manats to the SSPF in December 2016.

SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributes gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.


Follow the author on Twitter: @MaksimTsurkov