In 2014 SOCAR increased incomes by 4.2%, profit by 12.5%

Last year incomes of the State Oil Company of Azerbaijan (SOCAR) totaled 40 billion AZN (about $51 million), Suleyman Gasymov, SOCAR Vice President, said at the business forum organized by the Caspian European Club in Baku.

            He added that SOCAR received a profit worth 1.1 billion AZN ($1.4 billion). He said by January 1, 2015 SOCAR’s assets exceeded 24 billion AZN  ($30.6 billion).

According to SOCAR’s consolidated financial report, in 2013 the company increased its incomes by 2.2 times – up to 38,433,000,000 AZN. 30,687,000,000 AZN of incomes was received from the operations in Switzerland (79.8% of all incomes). In 2013 SOCAR’s net profit totaled 977 million AZN.

            One can draw a conclusion that during 2014 SOCAR’s incomes increased by 4.2%, while profit by 12.5%.