SOCAR ups contributions to state budget
The State Oil Company of Azerbaijan Republic (SOCAR) transferred over 134.23 million manat to the state budget in January 2013, or 30.37 million manat (29.2 percent) more than in the same period last year.
The company reported that it transferred over 1.4 billion manat to the state budget in 2012, or 90 million manat (6.7 percent) more than in the same period of 2011.
According to the report, SOCAR transferred about 12.77 million manat to the State Social Protection Fund in January, or 2.6 percent in January 2012.
In total, last year SOCAR transferred 157.5 million manat to the State Social Protection Fund, or 23 million manat (17.1) manat more than in 2011.
SOCAR includes production association Azneft (companies producing oil and gas on land and sea), production association Azerkimya (chemical industry), production association Azerigas (gas distribution).
SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet) and also owns petrol stations in Azerbaijan, Georgia, Ukraine and Romania. SOCAR possesses a network of petrol stations in Switzerland.
SOCAR is co-owner of the largest Turkish petrochemical complex Petkim.
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