By the end of 2022, the revenues of the State Oil Company of Azerbaijan (SOCAR) amounted to 119 billion 228 million manats (an increase of 53.8%), while net profit increased 4.5 times to 9 billion 424 million manats. According to the company’s financial report for 2022, conducted by Ernst and Young, SOCAR’s revenues from operations in Azerbaijan amounted to 11 billion 71 million manats (an increase of 41.9%). At the same time, Azerbaijan accounted for only 9.3% of SOCAR’s total revenue. SOCAR revenue table for 2022 by countries: Countries Share in the common income of SOCAR Compared with 2021 Switzerland 65,1% +74% Turkey 20,4% +38,1% Azerbaijan 9,3% +41,9% UAE 1,6% -35,4% Georgia 1,4% +31% Others 2,2% -19% Soiurce: FinanciaL report by SOCAR.

Source: Turan News Agency