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Azerbaijan’s Minister of Economy and Industry and SOCAR President visit Petkim

On July 18, Minister of Economy and Industry of Azerbaijan Shahin Mustafayev and SOCAR President Rovnag Abdullayev visited Aliaga region, Izmir, Turkey.
The officials familiarized themselves with the works of petrochemical company Petkim operated by SOCAR and its operational indicators and latest achievements. They attended the official opening of the company’s plastic packing factory and then were informed about the Turkey’s largest container port which is constructed in Petkim territory. Minister of Economy and Industry Shahin Mustafayev, SOCAR President Rovnag Abdullayev and other officials also visited STAR refinery’s construction area.

STAR refinery, the foundation of which was laid by Ilham Aliyev, the President of the Republic of Azerbaijan, and Recep Tayyip Erdogan, the Prime Minister of the Republic of Turkey in 2011, is one the largest investment projects in Turkey. The refinery with capacity of 10 million tons of crude oil a year will supply Petkim with petrochemical materials, realize its products in domestic market of Turkey and also export to the Mediterranean and Southern European markets.

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Azeri music at Montreux Jazz Festival

SOCAR continues its significant contribution to popularization of Azerbaijani culture at the 48th Montreux Jazz Festival.
Azerbaijani musicians attend all official programs of the festival. July 16 is memorized as the day of Azerbaijan at the Montreux Jazz Festival. Popular “Natig Rhythm” group headed by Natig Shirinov gave a percussion instruments master class. Speaking about the history of Azerbaijani famous percussion instrument - nagara, Natig Shirinov won a storm of applause from the audience after his interesting style of playing. Legendary funk saxophonist Maceo Parker made a sensation attending the Montreux Jazz Festival for the first time.

He accepted invitation by Azerbaijan and SOCAR and appeared at the scene together with Rashad Hashimov’s “Rast” group. The organizers expressed gratitude to SOCAR and Azerbaijan for this. The legend of funk music and “Rast” played “Bana-Bana Gel” by Azerbaijani composer J.Jahangirov, Ray Charles’ “Hit the Road Jack”, “Mas Que Nada” by popular Brazilian musician Jorge Ben Jor. The organizers said Maceo Parker and Azerbaijan’s “Rast” group attracted the record number of audience in the history of Montreux Jazz Festival.

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SOCAR nanotechnologists discuss cooperation opportunities with scientists

Experts from the Nanotechnology Department of SOCAR met scientists and experts from the National Academy of Sciences of Azerbaijan for discussing cooperation opportunities in the field of application of innovative methods.
Head of the innovative technology department of the Academy of Sciences Vugar Babayev talked about the technology development in the fields of petroleum chemistry, oil and gas production, oil engineering and highly appreciated work done by SOCAR in this sphere, especially application of nanotechnologies in oil industry. The scientists reached an agreement on basic principles of bilateral cooperation for supporting innovative ideas and initiatives, estimating priorities and developing potential innovative projects.

They also discussed capacity of the Academy’s institutes for development and application of new nanosystems and prospects for development of research works.

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SOCAR’s payments for June 2014

SOCAR paid AZN 145 million 651 thousand to the State Budget for June of the current year that is AZN 13 million 15 thousand (109,8 %) more than the payments for the same period of 2013.
For January-June 2014, SOCAR transferred AZN 968 million 309 thousand to the State Budget that is AZN 182 million 761 thousand (123,3 %) more than the payments for the same period of 2013.

Besides, the Company’s payment to the State Social Protection Fund amounted AZN 11 million 799 thousand in June. For January-June 2014, the Company paid AZN 72 million 237 thousand to the State Social Protection Fund.

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The State Oil Company of Azerbaijan… at a glance

Discover SOCAR

The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate.

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International ratings

When investors and credit organizations wish to cooperate with any company, first of all the international rating of the company in discussion is reviewed.

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