Marketing and Economic Operations Department of the State Oil Company of Azerbaijan (SOCAR) started deduct the differences between contractual (sale) prices and prices in the internal market of the country to the State Oil Fund. This deduction is realized due to the issue that the prices of produced and exported oil have exceeded $40 per barrel.
The payments are made in accordance with the agreement protocol on rules of transferring payments to the State Oil Fund of Azerbaijan on base of the law of Azerbaijan Republic On budget of Azerbaijan for 2006.