BAKU, Azerbaijan, June 26. In 2022, SOCAR, the state oil company of Azerbaijan, successfully cleared its remaining debts of 6.728 billion manats ($3.957 billion) owed to various local and international banks, Trend reports.
This repayment encompassed bond obligations of 2.550 billion manats ($1.5 billion).
Following the reporting period, SOCAR secured fresh long-term and short-term loans amounting to 3.857 billion manats ($2.267 billion) from financial institutions.
SOCAR is engaged in exploration of oil and gas fields, the production, processing and transportation of oil, gas and gas condensate, the sale of oil and petrochemicals in the domestic and international markets, the supply of natural gas to industrial enterprises and the population of Azerbaijan, as well as Europe.
The company conducts various activities in countries such as Türkiye, Georgia, Romania, Switzerland, Germany and Ukraine, including trading activities mainly in Switzerland, Singapore and Nigeria.
Follow the author on Twitter: @Lyaman_Zeyn