SOCAR

The State Oil Company of the Republic of Azerbaijan (Azerbaijani: Azərbaycan Respublikası Dövlət Neft Şirkəti, ARDNŞ), largely known by its abbreviation SOCAR, is a fully state-owned national oil and gas company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani segment of the Caspian Sea. It operates the country's only oil refinery, one gas processing plant and runs several oil and gas export pipelines throughout the country. It owns fuel filling station networks under the SOCAR brand in Azerbaijan, Turkey, Georgia, Ukraine, Romania, Switzerland, and Austria.

This article is about Azerbaijan oil company. For the US state sometimes referred to as "SoCar", see South Carolina.

State Oil Company of the Republic of Azerbaijan
SOCAR
Native name
Azərbaycan Respublikası Dövlət Neft Şirkəti
Company typeState-owned
IndustryOil and gas
Founded13 September 1992 (1992-09-13)
FounderAbulfaz Elchibey
Headquarters
Baku
,
Azerbaijan
Area served
Europe & Asia
Key people
Rovshan Najaf (president)
Products
Services
Revenue AZN 120,5 bn (2017)
AZN 2.5 bn (2017)
AZN 3.0 bn (2017)
Total assets AZN 90.3 bn (2017)
Total equity AZN 30.9 bn (2017)
OwnerAzerbaijani Government
Number of employees
100,000 (2018)
SubsidiariesBOS Shelf, AZFEN, Petkim, Star Refinery, Baku Shipyard LLC, Interfax Azerbaijan, Ateshgah Insurance, AzLAB, EKOL Engineering
Websitewww.socar.az

SOCAR is a major source of income for the authoritarian regime in Azerbaijan. The company is run in an opaque manner, as it has complex webs of contracts and middlemen that have led to the enrichment of the country's ruling elites.

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