SOCAR increased the volume of deposits almost 5 times

The deposits of the State Oil Company of Azerbaijan (SOCAR) placed in banks are estimated at 2 billion 840 million manats by the end of 2024.

As reported by BAKU.WS with reference to Report, the deposit portfolio has increased 4.7 times compared to the figure on January 1, 2024.

SOCAR was established by a presidential decree on September 13, 1992. The main activity of the company, which is 100% state-owned, consists of extraction, processing and transportation of oil, gas and gas condensate, as well as the sale of oil, gas and petroleum products. Its authorized capital is 5 billion 14 million manats.