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Governance

Corporate Governance

At the Heydar Aliyev Oil Refinery (HAOR), governance is the cornerstone of our operational excellence and long-term sustainability.

As a vital pillar of Azerbaijan’s energy sector, we are committed to a transparent, accountable, and robust management framework that aligns with both the SOCAR Corporate Strategy 2035 and international best practices.

Our Governance Philosophy

We believe that strong governance is more than just compliance; it is a strategic tool that drives efficiency, fosters innovation, and ensures the safety of our people and the environment. Our governance model is designed to:

Ensure Transparency

Maintain clear reporting lines and open communication with our parent company, SOCAR, and state stakeholders.

Drive Operational Excellence

Implement rigorous internal controls to optimize production and project management.

Promote Ethical Integrity

Adhere to a strict Code of Business Conduct that governs every interaction within our value chain.

Management Structure

The Heydar Aliyev Oil Refinery operates under a centralized governance system led by SOCAR Downstream Management, ensuring that our daily operations are integrated with the broader strategic goals of the Republic of Azerbaijan.

  • Supervisory Oversight: Our strategic direction is guided by the SOCAR Supervisory Board, focusing on energy security and the successful execution of the Refinery Modernization and Reconstruction Project.

  • Executive Leadership: Led by our Director and a team of seasoned industry experts, our management team is responsible for the safe and efficient operation of the refinery’s 20+ processing units.

  • Project Governance: For our ongoing modernization, we employ a dedicated governance framework that includes international EPCM (Engineering, Procurement, Construction, and Management) partners to ensure the highest global standards in technical and financial oversight.

Risk Management & Compliance

HAOR employs an Integrated Risk Management approach to identify, assess, and mitigate risks across all business segments.

  • Technical Compliance: Our operations meet or exceed ISO 9001 (Quality), ISO 14001 (Environment), and ISO 45001 (Health & Safety) standards.

  • Environmental Stewardship: A key governance objective is our transition to Euro 5 standard production, significantly reducing the environmental footprint of Azerbaijan’s transportation sector.

  • Internal Audit: Regular audits are conducted to ensure financial transparency and the effective use of state-allocated capital, such as the 2026 budget allocations for refinery reconstruction.

Sustainability & ESG

Governance at HAOR is inextricably linked to our Environmental, Social, and Governance (ESG) commitments. We are actively evolving our reporting mechanisms to align with GRI (Global Reporting Initiative) standards, focusing on:

Decarbonization

Setting measurable targets to reduce carbon intensity in line with SOCAR’s 2050 Net Zero ambition.

Human Capital

Ensuring fair remuneration, gender equality, and continuous professional development for our workforce.

Transparency

Publishing regular updates on project milestones and environmental impact assessments.