Azerbaijan Oil Fund assets exceed $40 bn


April 26, Fineko/abc.az. The assets of the State Oil Fund of Azerbaijan (SOFAZ) exceeded $40 bn for the first time in the history of the Fund.

According to the Fund, SOFAZ budget revenues for Jan-Mar 2019 amounted to AZN 5.96 bn and budget expenditures AZN 2.64 bn.

In Q1 of 2019 SOFAZ revenues from oil and gas contracts totaled AZN 4.605 bn, including from the sale of profit oil and gas  - AZN 3.833 bn, from bonus payments – AZN 766.4 million, from transit revenues – AZN 5.1 million.

Revenues from the management of SOFAZ funds for the past quarter amounted to AZN 1.355 bn.

During the reporting period SOFAZ transferred AZN 2.615 bn to the State Budget 2019 within the framework of SOFAZ budget implementation. AZN 19.7 million were allocated for the measures to improve the living conditions of refugees and IDPs. Over Jan-Mar 2019 SOFAZ management expenses amounted to AZN 6 million.

SOFAZ extra-budgetary expenditures related to the difference from changes in exchange rates amounted to AZN 332 million.