The State Oil Company of Azerbaijan (SOCAR) in the I half-year 2016 made a net profit in the amount of AZN 550 million, the SOCAR Vice President on economic issues Suleyman Gasimov said at today's press conference.
“During the first half of 2016 the net profit of SOCAR amounted to AZN 550 million and we expect to be able to maintain this rate, and by the end of 2016 we will have a profit,” Gasimov said.
Turan recalls that the net loss of SOCAR amounted to 1 billion 785 million manat in 2015 compared with the net profit of 1 billion 274 million manat in 2014.
The average export price of Azeri oil by the end of 2015 was $ 54 per barrel and in the past year it dropped to $ 45. -12C--
Economics
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
-
Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
Leave a review