SOCAR

Stock performance

History

SOCAR, the State Oil Company of Azerbaijan, was founded following Azerbaijan's independence from the Soviet Union to consolidate the country's oil industry, which traces to some of the earliest commercial oil production in the world around Baku in the nineteenth century, growing into one of the largest state oil companies in the Caspian region.

Business model

SOCAR explores for, produces, refines, and exports oil and natural gas, operating as Azerbaijan's state hydrocarbons company with extensive international operations including refineries and retail networks in Georgia, Turkey, Ukraine, and other markets.

Market position

SOCAR is the dominant oil and gas company in Azerbaijan and one of the most internationally active national oil companies in the Caspian and Black Sea region, with significant downstream operations extending well beyond Azerbaijan's own borders.

Country impact

SOCAR is the most economically significant company in Azerbaijan, and oil and gas exports managed through SOCAR have long been the central pillar of the Azerbaijani economy and government budget since independence.