BAKU, Azerbaijan, June 27. Total current liabilities of Azerbaijani state oil company SOCAR stood at 19.571 billion manats as of December 31, 2023, compared to 28.970 billion manats in 2022, Trend reports via the company.
As such, the company’s current liabilities dropped by 32.4 percent year-on-year.
Non-current liabilities declined from 18.530 billion manats to 17.547 billion manats, marking a decrease by 5.3 percent.
Total liabilities amounted to 37.118 billion manats in 2023, compared to 47.500 billion manats in 2022, showing a decrease by 21.9 percent.
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.
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