SOCAR increases payments to Azerbaijani state budget in January-August

Azerbaijan, Baku, Sept. 13 / Trend E. Ismayilov / In January-August 2013 SOCAR (the State Oil Company of Azerbaijan) transferred about 1.05 billion manat to the state budget or about 136 million manat (14.9 percent) more compared to the same period of 2012, the statement published by SOCAR, said. SOCAR transferred to the state budget over 1.4 billion manat in 2012, that is by 90 million manat, or 6.7 percent, more compared to 2011. According to the statement, in January- August SOCAR transferred 106.09 million manat to State Social Protection Fund (SSPF), that is by 1.1 percent more compared to January-August last year. In total, last year SOCAR transferred 157.5 million manat to State Social Protection Fund (SSPF), that is by almost 23 million manat, or 17.1 percent, more compared to 2011. SOCAR includes production associations Azneft (companies producing oil and gas on land and sea), Azerkimya (chemical industry) and Azerigas (gas distribution). The State Oil Company of Azerbaijan is the only producer of oil products (has on its balance two refineries) in Azerbaijan, and also owns refueling stations in Azerbaijan, Georgia, Ukraine and Romania and Switzerland. SOCAR is the co-owner of the largest Turkish petrochemical complex Petkim.. The official exchange rate on September 13 is 0,7845 AZN/USD. Do you have any feedback? Contact our journalist at agency@trend.az