Baku: A significant portion of the State Oil Company of Azerbaijan Republic (SOCAR)’s debt is attributed to its Turkish subsidiaries, according to a report by S and P Global Ratings. As of June 30, 2025, SOCAR’s capital structure included a $750 million Eurobond and a $200 million green Eurobond, both maturing in 2030 and issued by the parent company. Additionally, the parent company held a $100 million local bond and $2.8 billion in loans sourced from banks, local entities, and government-related entities.

According to Azeri-Press News Agency, S and P Global Ratings’ assessment reveals that $10 billion of SOCAR’s total debt is attributed to its operating subsidiaries. Of this, $4.3 billion is specifically linked to its Turkish subsidiaries, highlighting a significant concentration of financial obligations within this segment of SOCAR’s operations.