Industry and Energy

Home page

Industry and Energy

SOCAR gets 25% rise in long-term liabilities

02 July 2015 12:49 (UTC +04:00)

Baku. Agshin Rafigoglu - APA-Economics. As of January 1, 2015, total liabilities of the State Oil Company of Azerbaijan (SOCAR) stood at AZN 13.010 bln, APA reports quoting consolidated financial statement of Ernst&Young.

According to statement, the liabilities rose 1.5% year-on-year.

Current liabilities make AZN 6.891 bln, down 12.9% in annual comparison.

In the structure of current liabilities, trade debts and payables stood at AZN 4.181 bln, current part of short-term and long-term debts at AZN 2.212 bln, tax credits at AZN 334 mln.

Long-term liabilities amounted to AZN 6.119 bln, up 24.7% from 2013. Long-term debts make AZN 3.585 bln, liabilities for assets retirement – AZN 440 mln, deferred incomes – AZN 77 mln, deferred tax liability – AZN 580 mln, advances from the sale of shares – AZN 625 mln, other long-term financial liabilities – AZN 216 mln and other long-term liabilities – AZN 443 mln.