SOCAR’s investment in Ukraine reaches $200 million

Baku, September 16 - Neftegaz.RU. Azerbaijan state oil company SOCAR has invested over $200 million in Ukraine’s economy in the recent years, Khalaf Khalafov, Deputy Foreign Minister of Azerbaijan, said during the reception on the occasion of Independence Day of Ukraine, Azernews reported.

“Azerbaijan and Ukraine are developing relations in all spheres, including the sphere of economy. In the 1st 8 months of 2019, Azerbaijan accounted for 92 % of Ukraine’s unrefined oil imports,” Khalafov said.

He added that the 2 countries have established strong long-standing relations that have developed into a strategic partnership.

SOCAR is the sole producer of petroleum products in Azerbaijan, owning over 370 filling stations in Georgia, Ukraine, Romania and Switzerland. SOCAR has recently opened its 1st petrol station in Austria.

Last year, SOCAR’s total revenue amounted to $65.4 billion with an increase of 20.1 % compared to 2017. The total assets of SOCAR amounted to $36.5 billion last year, and the total debt obligations - to $8 billion.

Author: Rasana Gasimova