15:30 - 6.07.2021

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July 6, Fineko/abc.az. The last year, which is remembered as the most turbulent year in the history of the world oil industry, the State Oil Company of Azerbaijan (SOCAR) managed to reduce the possible net loss due to positive results in the development of oil and gas fields, transportation and sale of hydrocarbons.

ABC.AZ reports that SOCAR finished 2020 with net loss of AZN 1.734 bn. At the same time, the company completed 2019 with net profit of AZN 651 million.

According to SOCAR's financial statements, compared with 2019 SOCAR’s earnings decreased by 41%, or by AZN 34.145 bn to AZN 49.607 bn.

In 2019 SOCAR received income of AZN 83.75 bn. As of the end of 2019 SOCAR's total assets amounted to AZN 65.375 bn and by the end of 2020 they had decreased to AZN 64.155 bn.