15:36 - 8.07.2025

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July 8, Fineko/abc.az. The deposits of the State Oil Company of Azerbaijan (SOCAR) placed in banks are estimated at the level of 2.84 billion manats by the end of 2024.

ABC.AZ informs, referring to SOCAR’s report, that the deposit portfolio grew 4.7-fold against January 1, 2024.

SOCAR was established by the presidential decree from September 13, 1992. The main activity of the company, which is 100% owned by the state, is the 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 5.14 billion manats.