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 began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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