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Sovereign Wealth Funds Briefing - Categorized | Financials

Azerbaijani State Oil Fund’s budget-2014 to be formed by new oil prices

Posted on 27 September 2013

While calculating its budget for 2014, the State Oil Fund of Azerbaijan (SOFAZ) will use oil prices of $100 per barrel as a basis, while a few weeks ago, the fund was using the marker of $90, SOFAZ executive director Shahmar Movsumov told journalists on Thursday.
“The outlook for oil prices has changed,” he said. “Accordingly, SOFAZ’s budget for next year will be drawn up on the basis of $100 per barrel.” SOFAZ’s budget for 2013 was also formed on the basis of $100………………………………………..Full Article: Source


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