Azerbaijani Oil Fund’s Revenue was Declined by 2.5 times

Azerbaijani Oil Fund’s Revenue was Declined by 2.5 times Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) reached 5 543.4 mln. manats ($ 5,279 billion US), while budget expenditures constituted 6 397.1 mln. manats ($ 6,093 billion US) in the first 9 months of 2015. Reminded here that Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2014 was 10 131.9 mln. manats... Read More

80.0 % of SOFAZ’s total revenue was spent in the half of 2014

80.0 % of SOFAZ’s total revenue was spent in the half of 2014 Total revenue of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was 6.493 billion manat ($ 8.324 billion US) in the half of 2014. SOFAZ’s total spending was 5.163 billion manat ($ 6.619 billion US) in the reporting period. According to the official figures 79.5 % of the SOFAZ revenues was already spent in the first six months of 2014. Revenue of 6.374.8 mln. manat was received... Read More

SOFAZ announces total revenues for 12 years

SOFAZ announces total revenues for 12 years Since the establishment of the State Oil Fund of Azerbaijan (SOFAZ) up until March 31, 2012, the Fund received $70.8 billion in revenues, SOFAZ head Shahmar Movsumov said in an interview published by the Respublika newspaper yesterday. SOFAZ was established in 1999 and then its assets amounted to $271 million. According to Movsumov, $32.4 billion (45.7 per cent) of the total revenues of the fund were directed... Read More

SOFAZ assets reached $32 billion

SOFAZ assets reached $32 billion The State Oil Fund of Azerbaijan (SOFAZ) had assets of $32,359.4m as of 1 April, 8.6% up on 1 January 2012, when they were $29.8bn. In the first quarter of 2012, SOFAZ received budget revenue of AZN 3,586,900,000 ($4.57bn) and spent AZN 1,919,900,000 ($2.44bn), APAreports. The Oil Fund, which began to purchase gold during the reporting period, now has 2.804 tonnes of gold (90,143 ounces). The bulk of the fund’s... Read More