Fitch expects SOCAR’s earnings to rebound

Kanan Sadigov
Post's author

Fitch assesses SOCAR’s Standalone Credit Profile (SCP) at ‘b+’, with high leverage being the main constraint, Report informs, citing the rating agency.

"Leverage High but Under Control," the agency notes.

"SOCAR’s 2020 performance was fairly strong despite weak international oil prices due to regulated domestic prices and strong trading operations. We expect SOCAR’s earnings to rebound in 2021 on stronger international oil prices and increased regulated fuel prices since January 2021," Fitch says.

Latest news

Leyla Aliyeva, Arzu Aliyeva visit exhibitions at National Museum of Arts 22 November, 2024 / 11:50
Danish minister: Abandoning fossil fuels is extremely important 22 November, 2024 / 11:45
Russian Investigative Committee establishes no extremism evidence in slogans of Azerbaijani students 22 November, 2024 / 11:40
Deputy PM: Azerbaijan can produce high-tech products for Eurasian market in Kyrgyzstan - INTERVIEW 22 November, 2024 / 11:40
KMG head: No need to dramatize oil production decline at Tengiz 22 November, 2024 / 11:20
Italy gets more than 45% of Azerbaijan's oil exports 22 November, 2024 / 11:05
Iran orders activation of new advanced centrifuges after anti-Tehran resolution at IAEA 22 November, 2024 / 10:55
KazMunayGas increased oil production by 3% in 9 months 22 November, 2024 / 10:36
German minister: Production and utilization of plastics will emit 3 gigatons of CO2 annually 22 November, 2024 / 10:36
Russian hackers reveal list of HIV-positive citizens to be drafted into Ukrainian military 22 November, 2024 / 10:27
Ethnic Azerbaijani from Tabriz beaten in Armenia 22 November, 2024 / 10:21
Iran orders activation of new advanced centrifuges after anti-Tehran resolution at IAEA 22 November, 2024 / 10:16
Price of Azerbaijani oil exceeds $75 22 November, 2024 / 10:15
Oil prices stabilize 22 November, 2024 / 10:14
Bundeswehr prepares plan for Operation Germany in case of war with Russia 22 November, 2024 / 09:55