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SOCAR increases revenues from oil and gas sale

June 06, 2019/ 09:12

Baku. The revenues of Azerbaijani state oil company SOCAR from the sale of oil reached 58.5 billion manats in 2018 compared to 56.59 billion manats in 2017, Trend reports referring to the company's consolidated financial report for 2018.

According to the report, 40.1 billion manats of the total amount of revenues (24.8 billion manats in 2017) accounted for revenues from the sale of oil products, while 3.89 billion manats (3.88 billion manats in 2017) from the sale of petrochemical products.

SOCAR received revenues worth 3.19 billion manats from the sale of gas in 2018 compared to 2.67 billion manats in 2017, the report reads.

The company's other income accounted for 5.3 billion manats in 2018 compared to 4.5 billion manats in 2017.

Presently, SOCAR is the only producer of oil products in the country and it also manages more than 370 filling stations in Switzerland, Georgia, Romania and Ukraine.

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