Hit by oil price drop Azeri SOCAR tightens screws, leases out its DC mansion...

Amid oil price slump Azerbaijan's state oil company SOCAR has recently decided to limit its operations in the US, TURAN's Washington correspondent was informed by several sources knowledgeable on the matter.

SOCAR, once a lavish spender on just about anything from bizarre lobbying projects to sponsoring international contests, has already closed its several offices abroad such as the ones in Germany, Belgium and Switzerland, as the company announced in May.

The American subsidiary of SOCAR has been updating its website until recently, albeit its staffers haven't been seen around during the past few months. A surprise sign appeared in front of SOCAR's DuPont Circle office building early this week and reads "Office space for lease" referring to a real estate company called "Summit."

The company confirmed its involvement in leasing out SOCAR's building apartments without providing any further details when reached over the phone.

SOCAR America purchased a 23,000-square-foot historic building in DuPont Circle in 2012. The mansion located on 18th street NW, previously served as home for Freedom House, a human rights watchdog that lists Azerbaijan among the word’s top “not free” countries.

Azerbaijan is known as one of the top jailers of independent voices, while its government has a reputation for shelling out big speaking fees to offshore companies abroad to manage its property portfolio in the West, the recent Panama leaks shed additional light on.

In Washington, SOCAR's most recent operations include hiring several lobby firms on behalt of the Azeri government, such as Roberti + White “30 Point Strategies, LLC,” and Global Policy Initiatives to boost the country's tarnished image according to Justice Department records.

A.Raufoglu

Washington, DC