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