Azerbaijan's SOCAR reports $1.15bn net loss for 2015

Jul 01, 2016 12:00 AM

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.

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