SOFAZ allocates over $4 billion for various projects and programs

SOFAZ allocates over $4 billion for various projects and programs The State Oil Fund of Azerbaijan (SOFAZ) allocated about 3.34 billion manat for the implementation of various infrastructure projects and other needs as of July 1, the official website of the State Oil Fund said on Friday. A significant amount of funds directed at improving the welfare of refugees and internally displaced persons, as well as addressing their employment. The State... Read More

Azerbaijan revises oil prices forecast in 2012-state budget

Azerbaijan revises oil prices forecast in 2012-state budget Rising oil prices on world markets contributes to increase in the income of the State Oil Fund of Azerbaijan (SOFAZ) additionally by 3.625 billion manat, which will increase incomes of the consolidated budget for 2012 by 19.9 percent, Azerbaijani Finance Minister Samir Sharifov said on Saturday at the meeting of the Parliamentary Committee on economic policy during the debate of the bill... Read More

Oil Production Down, Revenue Increase

Oil Production Down, Revenue Increase Export of Azerbaijani oil products amounted to 1.4 billion manat in 2011, which is 176.2 million manat more than in 2010. It was stated in a government report on the results of 2011, presented to the Parliament. According to the report, the country exported about two million tons of petroleum products only in 2011. Around 3.69 million tons of oil has been sold on the domestic market of Azerbaijan in 2011, which... Read More

Azerbaijani oil export via Ceyhan tops 170m tonnes

Azerbaijani oil export via Ceyhan tops 170m tonnes Azerbaijan exported over 32m tonnes of oil via Turkey’s Mediterranean port of Ceyhan in 2011, and 170m tonnes since it started using the port in 2006. On December 2011, 2,187,122 tonnes of Azerbaijani oil were exported via Ceyhan, of which 1,645,024 tonnes belongs to the State Oil Fund of Azerbaijan,Gun.Az reports, citing figures from state oil company SOCAR. In the 2011 as a whole, Azerbaijan... Read More