BAKU, Azerbaijan, Sept.3
By Leman Zeynalova - Trend:
Payments made by Azerbaijan’s state oil company SOCAR to the state in the country and beyond saw significant changes in 2020 as compared to 2019, Trend reports with reference to the company.
SOCAR’s payments to state in Azerbaijan stood at 446.634 million manats in 2020, versus 553.632 million manats in 2019. SOCAR Energy Turkey increased its state payments from 29.570 million manats in 2019 to 51.669 million manats in 2020. This is while SOCAR Energy Georgia saw a dramatic fall in payments to the state year-on-year with 227 million manats in 2019 versus only 8 million manats in 2020.
SOCAR’s Ukrainian subsidiary also experienced a considerable decrease in state payments which amounted to 1.955 billion manats in 2020, as compared to 3.936 billion manats in 2019. SOCAR Energy Switzerland recorded a surge from 7.421 billion manats to 20.326 billion manats year-on-year.
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.
SOCAR conducts various petroleum activities in countries such as Georgia, Turkey, Romania, Switzerland, Germany and Ukraine, including trading activities, mainly in Switzerland, Singapore and Nigeria.
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