18.02.2015 - SOFAZ and Oil price
Azerbaijan produced in 2014 some 41.9 million metric tons of oil and gas condensate as compared to 43.1 million metric tons of oil and gas condensate, produced in 2013. The revenues of Azerbaijan’s State Oil Fund (SOFAZ) in 2014 stood at 12,731 million AZN, expenses amounted to 10,117.2 million AZN. SOFAZ said that as of Jan. 1, 2015, its assets increased by 3.42 percent compared with early 2014 ($35,877.5 million), and stood at $37,104.1 million.The main purposes of SOFAZ are the accumulation of funds and the placement of these fund’s assets abroad to minimize negative impact on the economy, and prevention of the “Dutch disease”...............................................Full Article: Source
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