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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Azerbaijani State Oil Fund budget approved for 2013

Posted on 03 January 2013

Azerbaijani President Ilham Aliyev has approved the budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2013, the State news agency AzerTAj informed. According to the approved budget, SOFAZ revenues for 2013 are estimated at 11.482 billion manat with expenses at 13.403 billion manat.
According to the revenue side of the budget for this year, the net proceeds from the sale of hydrocarbons are provided at a rate of 11.171 billion manat; acreage payments to investors is 1.833 million manat, income from transportation of oil and gas through Azerbaijan 9.223 million manat, income derived from the placement and management of the Fund’s assets 287.448 million manat……………………………………….Full Article: Source


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