Azeri oil fund assets to rise 33% in 2010
The assets of
the State Oil Fund (SOFAR), the body that holds Azerbaijan’s
revenues from crude exports, are predicted to increase 33.3% by the
end of 2010 in comparison with 2009 to reach $20 billion, a source
from SOFAR said.
Last year, a 32.8% growth was posted, with the figure reaching $14.9bn as of January 1, 2010.
SOFAR’s assets have been growing steadily in the past eight years, rising 30-fold by the end of 2009, compared to only $491.5 million reported at the end of 2001.*
Last year, a 32.8% growth was posted, with the figure reaching $14.9bn as of January 1, 2010.
SOFAR’s assets have been growing steadily in the past eight years, rising 30-fold by the end of 2009, compared to only $491.5 million reported at the end of 2001.*
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