SOCAR’s net profit increased by nearly six fold in 2017

SOCAR’s net profit increased by nearly six fold in 2017
# 14 June 2018 11:09 (UTC +04:00)

In 2017 SOCAR increased revenues by 78% to AZN 92.6 billion.

 

According to SOCAR’s audited financial statements, the net profit increased by nearly sixfold to AZN 2.09 billion. Assets ascended 16% to AZN 61.3 billion.  

 

Good financial performances are caused by:

 

  • SOCAR tripled volume of oil and oil products purchased and sold from the third parties and consequently, the trade turnover doubled;
  • Got more revenues from petrochemical products;
  • Crude oil price is 25-30% higher than the previous one;
  • SOCAR increased its share in Azerbaijan International Operations Company

 

 

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THE OPERATION IS BEING PERFORMED