SOCAR announces earnings from oil and gas sales last year

In 2021, the State Oil Company (SOCAR) earned 42.065 billion manats ($24.758 billion) from crude oil sales, which is 59.2 % more than in 2020, Report informs, citing the consolidated financial statement of the company.

Last year, SOCAR earned 7.074 billion manats ($4.163 billion) from natural gas sales, which is 76.2% more than in 2020.

In 2021, SOCAR earned 19.282 billion manats ($11.349 billion) from selling oil products, which is 44.1% more than in 2020.

In the same period, SOCAR increased the sale of petrochemical products by 2.95 times and brought the revenue to 6.748 billion manats ($3.971 billion).

In 2021, the company's rental income was 258 million manats ($152 million), which is 45% less than the previous year.

Meanwhile, the company's other annual income amounted to 2.104 billion manats ($1.238) billion, which is 2.9 % more than the previous year.

In 2021, the total revenue of SOCAR was 77.531 billion manats ($46.633 billion), which is 56.3% more than in 2020.