See total ranking

State Oil Company of Azerbaijan Republic (SOCAR)

State Oil Company of Azerbaijan Republic (SOCAR) is a state-owned fully integrated oil and gas company headquartered in Azerbaijan. In 2019, it had USD 49.30 billion in revenue and a reported 51,695 employees*. SOCAR produces onshore and offshore oil and natural gas in the Azerbaijan area of the Caspian Sea. It has not yet disclosed a comprehensive, long-term low-carbon transition plan.

Ranking position
#72/100
Total score
2.6/100
Performance score
1.1/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

0.0 /100 #38

Material Investment

6.3 /100 #53

Intangible Investment

0.0 /100 #20

Sold products

4.7 /100 #37

Management

6.6 /100 #78

Supplier Engagement

0.0 /100 #57

Client Engagement

5.0 /100 #39

Policy Engagement

30.0 /100 #27

Business Model

10.0 /100 #27

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

SOCAR receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. Although the company has stated that it is contributing to fulfilling obligations accepted by Azerbaijan under the Paris Agreement, it has not disclosed any emissions reduction targets. The company’s business strategy is focused on continuing oil and gas activities to ensure domestic fuel and energy security. There is no evidence that SOCAR intends to develop large-scale low-carbon business activities to reduce its reliance on oil and gas.

Progress towards the Paris Agreement

More about the company

Headquarters
Baku, Azerbaijan
Group revenue
(2019) USD 49.30 billion
Ownership structure
Stated owned
Number of employees
51,695
Scope of activity
Fully integrated
Website
http://www.socar.az/socar/en/home