Income of SOCAR in the last year amounted to 40 billion manat (about $ 51 billion), said the company's vice president Suleyman Gasimov at a business forum organized by the Caspian European Club in Baku yesterday.
However, he stressed that the State Oil Company made a profit of 1.1 billion manat ($ 1.4 billion).
According to him, SOCAR assets as of January 1, 2015 exceeded 24 billion manat ($ 30.6 billion).
Note that according to the consolidated financial report of SOCAR, the company for 2013 increased its revenues by 2.2 times - up to 38 billion 433 million manat. In this case, 30 billion 687 million of income was generated by activities in Switzerland (79.8% of total revenue). In the same year, net profit of SOCAR amounted to 977 million manat.
Based on these data, we can conclude that on the results of 2014 SOCAR revenues increased over the past year by 4.2%, and profit - by 12.5%. -12C-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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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.
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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.
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