“If manat exchange rate remains so low, we will demand the government to raise prices for gas” – declared Suleyman Gasimov the vice-president of Azerbaijan Oil Company, SOCAR.
According to Gasimov, because of low oil prices and inflation of Azerbaijan manat, the compnay completed 2015 with a loss.
According to 6 months data in 2016, the profit of the company amounted to 550 million USD.
We sell gas to Azerenergy for 120 AZN, Nakhchevan for 75 AZN,for commercial customer, it is 200 AZN and 1700 m3 gas is transferred to population for 100 AZN. The rise of the prices was made when manat exchange to USD was 1.60. By this time, SOCAR worked neither for loss or for a profit.
According to the latest data, AZN exchange rate is 1.8045 USD.