A subsidiary of the State Oil Company of Azerbaijan, JSC SOCAR Petroleum increases its share capital by 53.8 million manat.
The Financial Market Supervision House (FMSH) stated that the additional issue of 179,617 ordinary shares with par value of 300 manat was registered on January 6. The method of placement of the securities is not reported.
Prior to that, the paid-up share capital of CJSC SOCAR Petroleum was 29 million 875.8 thousand manat.
The company was founded in September 2008 with the participation of SOCAR (51%) and A.P. International LLC, United States (49%). In Azerbaijan it owns 23 filling stations and 11 storage depots, a car service station, a motel with 26 rooms, as well as many vehicles. --08D--
Economics
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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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