AZN 18 million spent on State Oil Fund management for past 9 months


October 25, Fineko/abc.az. Budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) for Jan-Sept 2019 amounted to AZN 14.715 bn and budget expenditures AZN 7.68 bn.

SOFAZ informed ABC.AZ that its revenues relating to implementation of oil and gas agreements amounted to AZN 12.07 bn, including revenues from the sale of profit oil and gas - AZN 11.29 bn, bonus payments AZN 766.4 million, acre payments AZN 4.7 million, transit revenues AZN 13.4 million. According to the report, revenues from the Fund’s management for the reported term totaled AZN 2.64 bn.

Also, during this period SOFAZ transferred AZN 7.536 bn to the State Budget as part of its budget execution for 2019. AZN 126.4 million were allocated for the measures aimed to settle and improve the social situation of families of refugees and IDPs. During this period AZN 18 million were spent on the Fund’s management.