BAKU, Azerbaijan, Nov. 20
By Fidan Babayeva – Pattern:
A web based assembly devoted to the outcomes of the monetary and financial exercise of the State Oil Firm of the Republic of Azerbaijan (SOCAR) for 9 months of 2020 was held underneath the chairmanship of SOCAR President Rovnag Abdullayev, Pattern experiences referring to SOCAR.
Vice-president of the corporate for financial points Suleyman Gasimov delivered a report on financial indicators for 9 months.
“Over the previous 9 months, revenues from gross sales of manufactured merchandise (excluding commerce operations) amounted to 4.1 billion manat ($2.4 billion), of which 2.8 billion manat ($1.6 billion or 68.3 %) account for the home market, 1.3 billion manat ($764 million or 31.7 %) – for the exterior market,” the report says.
In accordance with the report, revenues from the corporate’s manufacturing and providers decreased by 863.7 million manat ($508.05 million) or 17 % in comparison with the identical interval of 2019.
“There was a rise in earnings from the export of merchandise of oil refining sector and petrochemical merchandise whereas a lower in earnings was noticed within the export of crude oil and the sale of oil merchandise on the home market,” the report says.
Gasimov additionally pressured that on account of optimization measures, the corporate’s bills decreased by 1.3 billion manat ($764 million).
(1 USD = 1.7 AZN on Nov. 20)