SOCAR increases budget transfers

The State Oil Company of Azerbaijan Republic (SOCAR) transferred AZN 741,326,000 to the state budget in the first half of 2019, up 2.7% or AZN 19.705 million over 2018, Report informs citing SOCAR.

Today, SOCAR invests in all stages on value chain in the global energy projects and optimizes its revenues through vertical integration strategy. As a result, the company got 94% of its revenues in 2018 from foreign markets, while this figure was 34% in 2009.