SOCAR has disclosed its debt obligations

At the beginning of the current year, the debt obligations of the State Oil Company of Azerbaijan (SOCAR) amounted to 3 billion 47 million manats.

As reported by BAKU.WS with reference to the company's financial report, this is 18.8% more than at the beginning of last year.

Of these, 2 billion 391 million manats (78.5%) are owed to the State Oil Fund of Azerbaijan (SOFAZ). This amount is 18.7% less in annual comparison. The funds from SOFAZ were borrowed at an annual rate of 3.2-6%, with a repayment deadline of April 30, 2032.

The company's other major debt obligations are as follows:

- Ministry of Finance - 270 million manats (+3%). The debt was borrowed at an annual rate of 0.1-3.13% and must be repaid by December 15, 2029.

- "International Bank of Azerbaijan" OJSC (ABB) – 74 million manats (-3.4 times). The debt was borrowed at an annual rate of 4.5-4.8% and must be repaid by October 11, 2026.

- "Azerbaijan Caspian Shipping Company" CJSC (ASCO) – 169 million manats (-3.7%). The debt was borrowed at an annual rate of 4%, with a repayment deadline of the end of 2027.

- "Azerbaijan Investment Company" OJSC – 65 million manats (+3.2%). The debt was borrowed at an annual rate of 4% and must be repaid by the end of 2027.

- "Agrarcredit" CJSC – 69 million manats (-1.4%). The debt was borrowed at an annual rate of 0.16%, and its repayment will continue until January 4, 2041.

In addition, last year SOCAR assumed a debt obligation to "Azerbaijan Airlines" CJSC. The airline provided an interest-free loan of 9 million manats. The debt must be repaid by January 31, 2028.