SOCAR profits from operations in Switzerland exceeded $ 4 billion in 2012

Azerbaijan, Baku, July 6 / Trend E. Ismailov / SOCAR's (State Oil Company of Azerbaijan) profits obtained in 2012 in Azerbaijan amounted to 4.4 billion manat compared to 4.14 billion manat in 2011, according to SOCAR's consolidated statement on the results of financial activities in the past year published on the company's official website on Saturday. According to the report, SOCAR's revenues as a result of operations in Turkey amounted to nearly 1.91 billion manat compared to 1.85 billion manat in 2011. The State Oil Company's revenues as a result of operations in the United Arab Emirates accounted for about 6.6 billion manat compared to more than 1.32 billion manat in 2011. Last year, SOCAR for the first time received profit from its assets in Switzerland. Thus, in 2012, SOCAR revenues from operations in Switzerland amounted to 3.33 billion manat, while income from operations in Georgia - 626.64 million manat compared to 679.15 million manat in 2011. SOCAR's income from operations in other countries amounted to 306.13 million manat in 2012 compared to 140.3 million manat in 2011. The company's revenues last year totaled 17.14 billion manat compared to over 8.13 billion manat in 2011. SOCAR includes production associations Azerneft (companies involved in production of oil and gas onshore and offshore), Azerkimya (chemical industry enterprises), and Azeriqaz (gas distribution). The State Oil Company has a number of processing and service enterprises as well as institutions involved in geophysical and drilling activities. SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet), and owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland. SOCAR is co-owner of the largest Turkish petrochemical complex Petkim. The official exchange rate on July 6 is 0.7844 AZN / USD. Do you have any feedback? Contact our journalist at agency@trend.az