Azerbaijani Oil Fund: Fiscal Consolidation, Volatility and Oil Wealth

Azerbaijani Oil Fund: Fiscal Consolidation, Volatility and Oil Wealth The execution of the State Oil Fund of Azerbaijan’s (SOFAZ) 2016 budget has been approved. According to a Presidential decree, SOFAZ’s revenue was 9.410 billion manat ($5.881 billion USD) and expenditure was 9.022 billion manat ($5.638 billion USD). Initially, SOFAZ’s revenue for 2016 was forecasted as 4.6 billion manat, while expenditure was expected to be 10.7 billion... Read More

Azerbaijani oil income declined by about 2.0 times

Azerbaijani oil income declined by 2.0 times The State Customs Committee of Azerbaijan Republic has reported that Azerbaijani oil export was $2.315 billion US for Jan-May 2016 versus $4.035 billion US for the same period in 2015. The official statistics show that Azerbaijan oil export declined by 1.74 times in the first five months of 2016 compared to the same period previous year. Azerbaijan oil export was $429.809 million US on May 2016 against... Read More

Sharp Decline in Azerbaijani Oil Income in January 2015

Sharp Decline in Azerbaijani Oil Income in January 2015 Azerbaijan exported 1 million 697 thousand 768 tones crude oil through Baku-Tbilisi-Ceyhan (BTC) pipeline in January, 2015: according to the CESD report based on State Oil Company of Azerbaijan Republic’s (SOCAR) official figures. Meanwhile, the country exported 169, 507 thousand tones crude oil through Baku Novorosiysk and 254, 107 thousand tones via Baku Supsa pipelines in the indicated... Read More