Petroleum industry in Azerbaijan
Aspect of Azerbaijani industry / From Wikipedia, the free encyclopedia
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The petroleum industry in Azerbaijan produces about 873,260 barrels (138,837 m3) of oil per day and 29 billion cubic meters of gas per year as of 2013.[1] Azerbaijan is one of the birthplaces of the oil industry.
The State Oil Company of Azerbaijan Republic (known as SOCAR), a fully state-owned national oil and gas company headquartered in Baku, Azerbaijan, is a major source of income for Azerbaijani government.[2] The company is run in an opaque manner, as it has complex webs of contracts and middlemen that non-government watchdog organizations say have led to the enrichment of the country's ruling elites.[2]