Tag Archives: SOCAR

The State Oil Company of Azerbaijan Republic (SOCAR) and Kazakh National Company KazMunayGas JSC have signed a Memorandum of Understating in Astana. The MoU provides for the upgrade of KazMunayGas-owned floating drilling rig “Satti” in Baku and its utilization in SOCAR`s projects in the Azerbaijani sector of the Caspian Sea. …

“Despite the price fluctuations we witness in the market, there has been a progressive rise in SOCAR’s revenues and budget payments,” said SOCAR President Rovnag Abdullayev as he commented on the improved profitability of the company. “Following the instructions of President Ilham Aliyev, SOCAR has implemented many important reforms over …

President of the Republic of Azerbaijan Ilham Aliyev has attended the inauguration of SOCAR carbamide plant constructed in the territory of the Sumgayit Chemical Industrial Park. SOCAR President Rovnag Abdullayev informed the head of state of the work done in the enterprise. President Ilham Aliyev launched the plant. The head …

SOCAR Energy Ukraine, Ukrainian subsidiary of Azerbaijan’s state oil company SOCAR, plans to open up to eight new filling stations in Ukraine in 2019, the company told Trend. SOCAR Energy Ukraine said that currently the main tendency not only in Ukrainian, but also in European filling stations’ market is the …

Tax audits, which are being held in the Azerbaijani state oil company SOCAR, are the planned on-site inspections, Trend reports referring to a joint statement made by SOCAR and the Azerbaijani Taxes Ministry on Jan. 10. While commenting on the recent information regarding tax audits in SOCAR, both structures emphasized …

The value of investments of Azerbaijan’s state oil company SOCAR in Turkey will reach $19.5 billion, director general of the STAR oil refinery of SOCAR, Mesut Ilter, told the Turkish media Jan. 5, Trend reports. Speaking about current projects, Ilter noted that the STAR refinery (one of SOCAR’s assets in …

  On February 23, Azerbaijan’s parliament adopted amendments to the state budget to adjust down expected budget revenues based on oil price estimates of as low as $25 per barrel (Azernews.az, February 23). Initially, the State Budget for 2016 projected oil at $50–55/barrel (Trend, September 14, 2015). On January 10, …