Azerbaijan's SOCAR Reports $1.15B Net Loss For 2015

Reuters

BAKU, July 1 (Reuters) - Azeri state energy company SOCAR reported a 1.785 billion manat ($1.15 billion) net loss for 2015, compared to a 1.274 billion manat net profit a year earlier, the company said on Friday.

Oil-rich Azerbaijan's economy and currency, the manat, have come under intense pressure from sliding oil prices.

The state company's total revenue in 2015 was 33.103 billion manats, down from 39.674 billion manats in 2014.

(Writing by Margarita Antidze; Editing by Alexander Winning)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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