Azerbaijani Oil Fund`s Confirmed 2015 Budget: Big Decline

Azerbaijani Oil Fund`s Confirmed 2015 Budget: Big Decline The assets of the State Oil Fund of Azerbaijan (SOFAZ) for 2015 decreased by 9.5% and as of 1 January 2016 reached $33.57 billion against $37.1 billion by 1 January 2015. The SOFAZ press release says that budget revenues for 2015 amounted to AZN 7.7 billion and expenditures AZN 9.187 billion. Download Full Article Here  Read More

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

SOFAZ Speaks in Russian

SOFAZ Speaks in Russian CESD:  Purchasing of “VTB Bank” s shares is a political message State Oil Fund of Azerbaijan bought additional share emission of VTB Bank, Russia. The volume of the issue is RR 102.5 billion (quantity – 2.5 trillions, face value – RR 0.041). The emission has already been registered by Russian Bank. CESD argues that purchasing of “VTB Bank” s shares should be considered as a political decision, “it... Read More