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Sovereign Wealth Funds Briefing - Categorized | Financials

Assets of State Oil Fund of Azerbaijan increases by almost 10 pct in six months

Posted on 24 July 2012

Revenues of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 7 391.9 million manat in the first half of 2012 and expenses - 4 878.1 million manat, executive director of the Fund Shahmar Movsumov said at a press conference on the results of activity in the first six months of this year.
He noted that most of the fund’s revenue - 95.9 per cent was provided through the sale of oil and gas. Income from implementation of oil contracts were at 7.0998 billion manat, including the sale of profitable oil and gas - 7091.4 million manat from transit payments - 3.8 million manat………………………………………..Full Article: Source

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