SOCAR said to hide part of its revenues

Novosti-Azerbaijan reports that by results of the analysis of SOCAR's financial reporting, held by the NGO Coalition for Extractive Industries Transparency Initiative, SOCAR hides a part of revenues of the Caspian Oil Flotilla, a SOCAR structure, for the long-term rent of four ships by BP and AIOC.

Along with these 4 ships, SOCAR uses another 19 ships for the needs of oil companies and two ships of the department of Geophysics and Geology were commissioned by Azer-Gugro.

The coalition notes that the revenues from these ships have not been fixed in the SOCAR report.