Azerbaijan, Baku, March 13 / Trend, E.Ismayilov /
About two million tons of the total volume of oil produced by the State Oil Company of Azerbaijan (SOCAR) was exported in 2011, the Azerbaijani government's report for 2011 submitted to Parliament says. In 2011 SOCAR produced a total of 8.4 million tons of oil.
According to the report, proceeds from oil sold by SOCAR totalled $1.5 billion, which is $299.3 million more than in 2010. In 2011, SOCAR processed 6.3 million tons of oil at its refineries.
SOCAR includes production association Azneft (companies producing oil and gas on land and sea), Azerkimya (the chemical industry) and Azerigas (gas distribution).
The company is the only producer of oil products in the country having two oil refineries and also owns gas stations in Azerbaijan, Georgia, Ukraine and Romania. It bought a large network of filling stations in Switzerland last year. SOCAR is also a co-owner of the largest Turkish petrochemical complex Petkim. The company carries out oil trade in various regions of the world under the banner of SOCAR Trading.