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Sovereign Wealth Funds Briefing 22.Oct 2013

Posted on 22 October 2013 by VRS |  Email |Print

Budget revenues of the State Oil Fund of the Republic of Azerbaijan from January-September, 2013 reached 10.086 billion manat, while budget expenditures constituted 8.746 billion manat, a message from the State Oil Fund said.
According to the message, revenue of 9.774 billion manat was received from implementation of oil and gas agreements, including 9.766 billion manat from the sale of profit oil and gas, 1.7 million manat as acreage fees, 6.0 million manat as transit payments, 0.3 million manat as bonus payments and 0.06 million manat from the sale of assets received from foreign companies………………………………………..Full Article: Source

Posted on 22 October 2013 by VRS |  Email |Print

Since early 2001 as of October 1, Azerbaijan’s state oil fund SOFAZ received over $90.878 billion within the implementation of the project on developing the giant Azeri-Chirag-Gunashli (AGC) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, SOFAZ told Baku-based Trend news agency on October 18.
SOFAZ, an entity that accumulates and manages Azerbaijan’s oil and gas revenues, reported that it received over $12.107 billion under the ACG project in January-September 2013………………………………………..Full Article: Source

Posted on 22 October 2013 by VRS |  Email |Print

The Norwegian government is looking at making more green investments. Seeing as Norway runs a sovereign wealth fund worth around $700 billion and is the majority owner of the oil major Statoil , its investment decisions impact the real world. It is unlikely that Statoil would be forced to make unprofitable investments just to tickle Oslo’s fancy, but it is still important to examine all of the options.
Statoil’s history in renewables: The company has had small interests in renewables for a number of years. The encouraging news is that a number of its green investments are in wind-related resources. It recently acquired a 70% interest in the Dudgeon wind project in the U.K. It also has joint ownership of the Sheringham Shoal offshore wind farm………………………………………..Full Article: Source

Posted on 22 October 2013 by VRS |  Email |Print

On October 9, 2013, London-based Tri-Star Resources signed a non-binding Memorandum of Understanding (MoU) with the Oman Investment Fund and Castell Investments Limited, a subsidiary of Dubai Transport Company, to create a joint venture company to build and operate an antimony roasting facility in Oman. Publicly-traded Tri-Star Resources is an integrated antimony development company.
The joint venture company is to be called Strategic and Precious Metals Processing LLC and will be incorporated in the Sohar Free Trade Zone in Oman. The facility is estimated to cost US$ 60 million. Final binding joint venture agreements are expected to be completed in November 2013………………………………………..Full Article: Source

Posted on 22 October 2013 by VRS |  Email |Print

There was a time the Minister of Finance, Dr Ngozi Okonjo-Iweala, was championing the need for the country to have a Sovereign Wealth Fund. I really don’t know how far she has gone on this, but I support her reasons for coming up with the fund.
We can’t just keep spending all we are earning from crude oil. I understand some state governors are against this fund because it will mean that they will be forced to contribute to the account, which will result in a reduction of their allocation from the Federation account………………………………………..Full Article: Source

Posted on 22 October 2013 by VRS |  Email |Print

After posting its strongest-ever result from active investment activities, the New Zealand Superannuation Fund is reviewing plans to invest more in emerging markets and energy-related assets.
These value-added plays help NZ Super achieve a high level of diversification as well as improve returns, says head of investments Fiona Mackenzie……………………………………….Full Article: Source

Posted on 22 October 2013 by VRS |  Email |Print

Malaysia’s Khazanah Nasional Berhad said it had rasied its stake in Sri Lanka’s John Keells Holdings to above 10 percent of the company. Khazanah originally bought an 8.85 percent stake in March 2012, though, Broga Hill Investments Ltd, an investment vehicle.
In a stock exchange filing Broga Hill Investments said it now had a 10.55 percent stake in JKH. JKH is raising funds through a rights issue for a 650 million US dollar plus integrated resort in Colombo………………………………………..Full Article: Source

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