Is Azerbaijani Oil Fund’s 2015 budget realistic?

Is Azerbaijani Oil Fund’s 2015 budget realistic? The budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for 2015 has been approved. SOFAZ’s income is expected to be 10, 246 billion manat ( $13,136 billion US) meanwhile the expenditure will be 11, 814 billion ($ 15,146 billion US) in 2015 according to the official law. Noting that the oil price set in the 2015-state budget of Azerbaijan stands at $ 90 per barrel, SOFAZ said the... Read More

Azerbaijani Oil Export in 2014: Brief Overview

Azerbaijani Oil Export in 2014: Brief Overview 2014 was marked by a sudden decline in oil prices in the world market. As an oil exporter country, Azerbaijan started feeling effects of a sharp fall in oil revenue after oil price decline in the world market owing to decline of the country’s oil income. In spite of the fact that Azerbaijan was able to reduce share of oil industry both in public revenues and in the country’s Gross Domestic Product... Read More