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SOCAR reduced fuel, electricity consumption during pandemic

Oil&Gas Materials 30 June 2021 18:16 (UTC +04:00)

BAKU, Azerbaijan, June 30

By Leman Zeynalova – Trend:

Azerbaijan’s state oil company SOCAR reduced fuel and electricity consumption by 28 percent and 10 percent, respectively during the COVID-19 pandemic in 2020, Trend reports citing the company.

About 26 percent of the electricity consumed by SOCAR in Azerbaijan was produced by the company, and the rest was received from government agencies.

The company saw an increase in energy consumption in 2019 with the launch of a number of factories and enterprises.

SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, one oil refineries and one gas processing plant, a deep water platform fabrication yard, two trusts, one institution, and 23 subdivisions are operating as corporate entities under SOCAR.

SOCAR conducts various petroleum activities in countries such as Georgia, Turkey, Romania, Switzerland, Germany and Ukraine, including trading activities, mainly in Switzerland, Singapore and Nigeria.

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Follow the author on Twitter: @Lyaman_Zeyn

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