BAKU, Azerbaijan, May 26. Net profit of SOCAR Petroleum, Romanian subsidiary of Azerbaijan’s state oil company SOCAR stood at 16.45 million lei ($3.5 million) with turnover of 1.42 billion lei ($307 million) in 2021, Trend reports with reference to Romanian media.
This is while in 2020, the company reported net profit of 6.8 million lei ($1.47 million) with turnover of 827 million lei ($178.8 million).
Also, the number of employees of the company increased slightly, from 669 to 682, according to the balance sheet data submitted to the Ministry of Finance,
SOCAR is present in Romania only in the car fuel sales sector with 67 gas stations.
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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