SOCAR reveals dividends forecast for 2020
BAKU, Azerbaijan, Jan. 27
By Eldar Janashvili – Trend:
The dividends of Azerbaijan’s State Oil Company SOCAR from the development of the Shah Deniz gas field and gas export through the South Caucasus Pipeline (SCM) are forecasted to be from $75.7 million to $195.2 million in 2020, depending on oil prices, Trend reports referring to Azerbaijan’s State Oil Fund (SOFAZ).
So, at an oil price of $40, $50, and $60 per barrel, SOCAR’s dividends from the development of the Shah Deniz field will amount to $28.4 million, $88.2 million, and $147.9 million respectively.
The company's dividends from gas exports through the SCM are forecasted to be $47.3 million, regardless of oil price. Accordingly, at the given prices, SOCAR's total dividends on these two projects will amount to $75.7 million, $135.5 million, and $195.2 million respectively.
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