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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

State Oil Fund of Azerbaijan knows how to increase oil revenues

Posted on 25 July 2012

Ellada KhankishiyevaIn less than 12 years of activity the State Oil Fund of Azerbaijan (SOFAZ) increased the volume of assets by more than 120 times. The increase in revenue of SOFAZ was not only due to receipt of large incomes from the sale of oil at high international prices, especially as the fund spend them each year, but also by proper and competent management.
If the Oil Fund accumulated only $271 million in 2001, then its assets reached $32.666 million on July 1, 2012………………………………………..Full Article: Source


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