SOCAR repays over $4 million of debt

Last year, the State Oil Company of Azerbaijan (SOCAR) paid off the remaining debt obligations to a number of local and international banks in the amount of 6,728,000 manats (over $4 million), Report informs citing SOCAR.

According to the opinion of the international audit company Ernst & Young Holdings (CIS) B.V. on the company's financial statements, this amount includes payments on bonds in the amount of 2,550,000 manats (almost $1.5 million)

After the reporting date, SOCAR received new long-term and short-term loans in the amount of 3,857,000 manats ($2.2 million) from local and foreign financial organizations.