Gulf Oil and Gas accountACCOUNT

SOCAR Boosts Budget Payment for 2018 by More Than 6%

Source: www.gulfoilandgas.com 1/29/2019, Location: Asia

SOCAR contributed AZN 1.65 billion to the State Budget for 2018. Compared with the previous yearís figures, the company's budget payments grew by AZN 93.2 million, a rise of 6.2%. In addition, SOCARís payment to the State Social Protection Fund (SSPF) amounted to AZN 172.5 million an increase of 10.6% against the same period of 2017.

Rovnag Abdullayev, President of SOCAR said: ''Following the instruction from the President of the Republic of Azerbaijan Ilham Aliyev, SOCAR has implemented reforms over the past decade facilitating the shift to becoming a more integrated global energy company resulting in a rise of its operational efficiency and the commencement of diversification of its services and products through whole value chain. As a result of well-timed effective measures, SOCAR's revenue and budget payments are growing despite price fluctuations in the market.

Today, SOCAR, the global brand of Azerbaijan, earns the largest portion of revenue from foreign operations, re-investing this revenue for the welfare of our country and boosting its contribution to the state budget annually.''

Financials and Investment News in Azerbaijan >>

Trinidad and Tobago >>  2/20/2020 - Touchstone Exploration Inc. announces that further to the Company's announcement on February 19, 2020 regarding the proposed placing (the "Placing"), ...
Bermuda >>  2/17/2020 - Borr Drilling Limited has entered into a new financing arrangement for the newbuild jack-up rig Tivar, scheduled to be delivered from the yard in July...

Cyprus >>  2/17/2020 - In reference to the Strategy Update released on November 7th last year, Seabird Exploration Plc announces the following: ...
Ireland >>  2/17/2020 - Lansdowne Oil & Gas plc has raised £488,000 by way of a placing of 81,333,333 new ordinary shares of 0.1 pence each (the "Placing Shares") with existi...

Bahamas >>  2/14/2020 - Bahamas Petroleum Company, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, ...
United States >>  2/14/2020 - Mosman Oil and Gas Limited the oil exploration, development and production company, announces that the Company has raised £300,000 (before expenses) (...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Azerbaijan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.