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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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