PremiumAzerbaijan's SOCAR faces rising retail prices for oil and gas

SOCAR reported a significant rise in the production costs of oil and gas last year, driven by higher spending on fuel, electricity, salaries, social insurance, asset depreciation, transportation, taxes, and operational services. The cost per ton of oil reached approximately 161 manat, while the cost per 1,000 cubic meters of gas increased to around 177 manat, reflecting the company’s tighter production margins.