Azerbaijani crude oil export declined by 4.2 % in January 2019

Azerbaijani crude oil export declined by 4.2 % in January 2019 The daily volume of oil production in Azerbaijan for January 2019 totaled 793 thousand barrels, including 720 thousand barrels of crude oil and 73 thousand of gas condensate. The Ministry of Energy reports that 598 thousand barrels of crude, 73 thousand barrels of condensate and 16 thousand barrels of oil products were exported in January. According to the Ministry, Azerbaijan produced... Read More

74.0 % of SOFAZ’s 2019 revenue will be transferred to the state budget in Azerbaijan

74.0 % of SOFAZ’s 2019 revenue will be transferred to the state budget in Azerbaijan Transfer to the state budget will reach 98.0 % of total fund’s expenditure The 2019 budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) has been approved. According to the budget, SOFAZ’s revenues for 2019 will be at 15 billion 450 million manat ($ 9.08 billion US), expenditures will be 11 billion 595 millon manat ($ 6,820 billion US). SOFAZ’s... Read More