SOFAZ lost $ 1.3 billion US due to revaluation of foreign exchange

SOFAZ lost $ 1.3 billion US due to revaluation of foreign exchange State Oil Fund of the Republic of Azerbaijan’s (SOFAZ) revenue was 4 054. 0 million. manats ($ 3860.9 million US), while budget expenditures constituted 4 042.1 million manats ($ 3849.6 million US) in the first half of 2015. Revenue of 3 812.1 mln. manats was received from the implementation of oil and gas agreements, including 3 802.1 mln. manats from the sale of profit oil and gas, 5.7 mln. manats as transit... Read More