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SOCAR increases payments to state budget of Azerbaijan

August 01/ 09:13

Baku. In the first half of 2019, Azerbaijan’s state oil company SOCAR paid more than 741.3 million manats to the state budget of Azerbaijan, reports July 31.

This figure is 2.7 percent or 19.7 million manats more than in the same period of 2018.

Last year, 94 percent of the company’s revenues accounted for foreign markets, while in 2009 this figure was 34 percent. The company continues to explore opportunities for further business expansion in different segments abroad.

SOCAR is the major supplier of natural gas, oil and oil products to Georgia. The company's subsidiaries are engaged in expansion and modernization of the country’s gas distribution systems and development of filling stations under SOCAR’s brand, and they also have an oil terminal in Georgia’s Kulevi Black Sea Port, which supplies Azerbaijani oil and oil products to the world markets.

In addition to Georgia, the company is also active in Turkey, Ukraine, Romania, Switzerland and Austria.

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