In 2014 State Oil Company of Azerbaijan (SOCAR) has paid taxes to the amount of 1,825,000,000 AZN (about $2.33 billion at the current rate) to the state budget, reported SOCAR’s press office.
“This is a record volume of tax payments by SOCAR to the state budget within a year.”
During 2013 SOCAR has paid to the state budget of Azerbaijan 1,574,473,000 AZN. During last year SOCAR’s tax payments to the state budget increased by 15.9%.
It has been stressed at the session that during 2014 the company fulfilled the forecast of oil and gas production and oil products production.
SOCAR reported that by July 1, 2014 SOCAR’s assets were equal to 24,442,000,000 AZN, 5 times up against July 1, 2015.
SOCAR’s President Rovnag Abdullayev said at the session that in 2015 the company must satisfy the local needs in oil products and gas.
All SOCAR’s departments have been instructed to optimize the costs.—0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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