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SOCAR Will Receive Additional $150 mln from Price Increase in Internal Market

Oil&Gas Materials 17 January 2007 19:11 (UTC +04:00)

The President of the State Oil Company of Azerbaijan (SOCAR), Rovnak Abdullayev, said that the SOCAR will receive additional $150 mln due to the increase of the prices form the energy carriers this year, Trend reports. He said that this finance will be directed towards the development of the company. Presently SOCAR is realizing a number of large-scale investment and infrastructure projects. The additionally received finances will be directed towards their financing and form nearly 30% of gross finances required for their realization.

Abdullayev said that due to the price increase form the energy carriers, the SOCAR considers the salary increase for its employees.

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