Baku, Azerbaijan, July 7
By Maksim Tsurkov – Trend:
The Azerbaijani state oil company SOCAR has attracted loans worth 1.378 billion manats from foreign and local banks since early 2017, said a consolidated financial statement on SOCAR’s performance in 2016.
The financial statement was audited by EY.
SOCAR received new long-term loans worth 798 million manats ($457 million), 186 million manats (101 million euros) and 254 million manats (368 million Georgian laris) from local and foreign banks.
In addition, SOCAR received a new short-term loan worth 140 million manats ($82 million) from a local bank, according to the financial statement.
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 Azerigaz (deals with distribution of gas in the country).
SOCAR is the sole petroleum products producer in Azerbaijan owning over 370 filling stations in Georgia, Ukraine, Romania and Switzerland. It is also a co-owner of the largest Turkish petrochemical complex Petkim.