Revenues of Azerbaijan’s State Oil Company (SOCAR) from oil sales in 2023 amounted to 48.923 billion manats ($28.778 billion), marking a 27.6% decline from 2022, Report informs.
According to SOCAR’s consolidated financial statements for 2023, the company’s income from the sale of petroleum products last year amounted to 18.990 billion manats ($11.170 billion, a decline of 21.8%), gas – 9.581 billion manats ($5.635 billion, a decline of 46.1 %), petrochemical products – 4.649 billion manats ($2.734 billion, a decline of 31.4%).
At the same time, the company's rental income in 2023 amounted to 341 million manats ($200.588 million, an increase of 13.6 times), other income – 2.717 billion manats ($1.598 billion, a decrease of 3.3%).
The company’s total revenues last year amounted to 85.201 billion manats ($50.118 billion, a decline of 28.5%).