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SOCAR allocations to Azerbaijan's state budget increase

Oil&Gas Materials 16 October 2017 12:55 (UTC +04:00)

Baku, Azerbaijan, Oct. 16

By Maksim Tsurkov – Trend:

Azerbaijan’s state oil company SOCAR allocated almost 1.17 billion manats to the state budget in January-September 2017, which is by 13.7 percent (140.83 million manats) more than in the same period of 2016, SOCAR said in a message Oct. 16.

In September 2017, SOCAR transferred 117.33 million manats to the state budget.

In January-September 2017, SOCAR transferred 112.43 million manats to the State Social Protection Fund (SSPF) of Azerbaijan, which is by 4.9 percent (5.26 million manats) more than in the same period of 2016.

In September 2017, transfers to the SSPF amounted to 12.6 million manats.

SOCAR includes such production unions as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (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.

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