SOCAR’s transfers to state budget up by almost 20%
Baku, Azerbaijan, May 12
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR transferred 530.302 million manats to the state budget in January-April 2017, which is 19.2 percent more than in the same period of 2016, SOCAR said in a message.
SOCAR transferred 133.659 million manats to the state budget in April 2017, which is 11.5 percent more than in April 2016.
The Azerbaijani oil company transferred 49.515 million manats to the country’s State Social Protection Fund in January-April 2017, or 9.8 percent more than in January-April 2016.
SOCAR’s transfers to the Fund in April 2017 were 13.247 million manats, as compared to 13.138 million manats in April 2016.
SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.
The official exchange rate on May 12 is 1.7025 AZN/USD.