SOCAR discloses amount of revenues from activity in foreign countries

By Trend

The revenues of the Azerbaijani state oil company SOCAR reached 111.198 billion manats in 2018, which is 16.7 percent more than in the preceding year (92.6 billion manats), Trend reports referring to the company's consolidated financial report for 2018.

SOCAR’s revenues obtained in Azerbaijan grew from 5.38 billion manats to 6.6 billion manats.

SOCAR’s revenues from the operations in Switzerland increased from 78.63 billion manats to 94.5 billion manats. According to the report, the company's revenues in Turkey increased from 4.925 billion manats to 4.97 billion manats.

In 2018, the company’s revenues reached 2.3 billion manats from the activity in the United Arab Emirates compared to 1.3 billion manats obtained in 2017. SOCAR’s revenues from the operations in Georgia slightly decreased from 1.2 billion manats to 1.1 billion manats. The company’s revenues from the activities in other countries grew from 1.12 billion manats to 1.6 billion manats.

Presently, SOCAR is the only producer of oil products in the country. The company also operates more than 370 filling stations in Switzerland, Georgia, Romania and Ukraine.

(1.7 AZN = 1 USD on June 4)