By the end of 2022, the revenues of the State Oil Company of Azerbaijan (SOCAR) amounted to 119 billion 228 million manats (an increase of 53.8%), while net profit increased 4.5 times to 9 billion 424 million manats.
According to the company’s financial report for 2022, conducted by Ernst & Young, SOCAR’s revenues from operations in Azerbaijan amounted to 11 billion 71 million manats (an increase of 41.9%).
At the same time, Azerbaijan accounted for only 9.3% of SOCAR’s total revenue.
SOCAR revenue table for 2022 by countries:
| Countries | Share in the common income of SOCAR | Compared with 2021 |
| Switzerland | 65,1% | +74% |
| Turkey | 20,4% | +38,1% |
| Azerbaijan | 9,3% | +41,9% |
| UAE | 1,6% | -35,4% |
| Georgia | 1,4% | +31% |
| Others | 2,2% | -19% |
Soiurce: FinanciaL report by SOCAR.
Caspian Barrel
