Lukoil-Azerbaijan paid $58 mln in taxes to Azerbaijan since inception

Baku. 21 January. REPORT.AZ/ Lukoil paid nearly $58 mln in taxes to the budget of Azerbaijan throughout the whole period of Lukoil-Azerbaijan's operation, Report informs citing Lukoil.

The company noted that investments in the sphere of fuel and oil products sale appoximated $7.9 mln. The company has implemented projects on technical reequipment of 10 of its own petrol stations.

The average daily sale per petrol station grew from 14 to 24 tonnes daily from 2012 to 2018.

"The company sees a potential growth in the sale of its automobile oils on Azerbaijan's retail market. Today Lukoil's industrial oils are applied by the country's major industrial enterprises: Azerbaijan Railway Company, Bahar Energy, Azneft and many others. From 2013 Lukoil launched the sale of branded fuel ECTO throughout Azerbaijan. Today this branded fuel constitutes 98% of retail sales. Since 2018, the volume of oil products sold by the company in the country amounted to 266,000 tonnes," the company said.

The Company is presently involved in the development of Shah-Deniz, a gas condensate field in the Azerbaijani water area in the south-western Caspian Sea. Shah-Deniz is one of the largest and most capital-intensive oil and gas projects globally. It produced 10.2 bcm of gas in 2017 (with Lukoil holding 849 mln cubic meters) and 2.5 mln tonnes of gas condensate (197,000 tonnes).

Lukoil has been present in Azerbaijan's sphere of oil products sale since 1993. The company owns 60 petrol stations and an oil base which ensures the transshipment of 320,000 tonnes of oil annually. Lukoil is a reliable supplier of diesel fuel and automobile gasoline, as well as lubricants to major international and Azerbaijani companies operating on the world market. With the share of in oil products sale in Azerbaijan making 10%, the company serves more than 80,000 Azerbaijani drivers daily.

Today, the average number of Lukoil personnel in the sales segment totals 460 people with Azerbaijani citizens exceeding 90% of this number. The personnel outsourcing reaches 84 people, all of them are the citizens of Azerbaijan.