SOCAR decreases base price of oil by about 3% 

In 2021, the base price for a ton of SOCAR’s oil was 115.52 manats ($68), down 3.33 manats ($2) or 2.8% from a year earlier, Report informs, citing the company.

The decrease in the base price was caused by a decline of 11.380 million manats ($6.69 million) or 8.3% in wage costs, 11.095 million manats ($6.53 million) or 9.3% in major repair and maintenance costs, 42.559 million manats ($25 million) or 33% in transportation costs, 4.955 million manats ($2.94 million) or 22.3% in security costs, 1.662 million manats ($0.98 million) or 3.5% in other taxes, and 3.414 million manats ($2 million) or 10% in other costs, compared to last year.