| The value of the Timor-Leste (East Timor) Oil Fund increased by just US$177 million in the third quarter due to payments to the state budget, the Timor-Leste Central Bank said Monday in Dili. According to the statement issued in Dili, the value of the Oil Fund was US$16.6 billion at the end of September.
From July to September the Fund recorded US$522.35 million of gross inflows in contributions and royalties, and outputs amounted to US$345.35 million, including US$340 million in the form of transfers to the state budget. The Timor-Leste Oil Fund, which was created in August 2005, receives all the state’s revenues from oil exploration...............................................Full Article: Source
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