| The State Oil Fund of the Republic of Azerbaijan (SOFAZ) announced growth of its assets by 3.42% in 2014. According to the Fund, last year SOFAZ assets grew from $35.877 bn up to $37.104 bn. Budget revenues of SOFAZ for 2014 reached AZN 12.731 bn, while budget expenditures constituted AZN 10.117 bn. In other words, SOFAZ budget was executed with surplus of AZN 2.613 bn.
According to the Fund, revenue of AZN 12.343 bn was received from implementation of oil and gas agreements, including AZN 12.319 bn from the sale of profit oil and gas, AZN 1.7 million as acreage fees, AZN 8.9 million as transit payments, AZN 13.3 million as bonus payments and AZN 0.1 million from the sale of assets received from foreign companies. The revenues from managing assets of the Fund for 2014 amounted to AZN 387.2 million...............................................Full Article: Source
|