Baku, January 29, AZERTAC
“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 the past 10 years to transform the company into a modern integrated global energy one and enhance its overall operational efficiency. The company has also started to diversify the services it delivers and types of commodity it produces throughout the chain of values,” Abdullayev mentioned.
“As a result of timely undertaken measures, SOCAR's revenues and budget payments have been enjoying steady growth despite the fluctuations in the market. Today, SOCAR - the global brand of Azerbaijan, receives the largest portion of its revenues from foreign operations and re-invests these revenues for the good of the people of Azerbaijan by increasing its payments to the state budget annually," he added.
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