SOCAR's revenues from natural gas sales rise 25%

The State Oil Company of Azerbaijan (SOCAR) earned AZN 51.1 billion from the sale of crude oil, AZN 22.2 billion, from the sale of petroleum products in 2019. Report informs, referring to the consolidated financial statements of the company.

In the reporting period, SOCAR’s revenues from natural gas sales stood at AZN 4.1 billion. Rental incomes made up AZN 416 million, other profits – AZN 1.98 billion.

The incomes from the sales of crude oil and petroleum products descended, while other revenues ascended.

The highest growth in the revenues was recorded in gas sales - 25%, which was caused by an increase in the production in Shah Deniz 2 and Umid fields.

In 2019, SOCAR’s total incomes constituted AZN 83.8 billion.