SOCAR ups sales revenues in Switzerland by 74%

Out of 119.2 billion manats ($70.1 billion) of revenues received by Azerbaijan’s State Oil Company (SOCAR) from sales in 2022, 77.6 billion manats ($45.6) or 65.1 per cent came from Switzerland.

According to the Report with reference to the company's financial statements, this is 74 per cent more than in 2021.

Last year SOCAR's main operating revenues in Türkiye amounted to 24.2 billion manats ($14.2 billion). This is also 38.1 per cent more than a year earlier.

In the reported period, SOCAR's revenues due to sales in Azerbaijan rose by 41.9 per cent up to 11.07 billion manats ($6.5 billion), while due to sales in the United Arab Emirates, they decreased by 35.4 per cent down to 1.8 billion manats ($1.05 billion).

Similarly, due to sales in Georgia, they increased by 31.05 per cent up to 1.6 billion manats ($941.1 million), and due to sales in other countries, they decreased by 19 per cent down to 2.7 billion manats ($1.5 billion).