Fitch affirms rating, makes capital expenditures forecast of Azeri state oil corporation until 2022

11.02.2019

Aggregate capex of the Azerbaijani state oil company SOCAR for 2018-2021 will reach 13 billion manats (AZN) and its contributions in associates and joint-ventures will be 1.2 billion manat. Fitch Ratings has affirmed the long-term issuer default rating (IDR) of SOCAR at “BB +” and the short-term IDR at “B”,...