SOFAR revenues top $3.4m in Q1
Revenues of the State Oil Fund (SOFAR), the body
that holds Azerbaijan’s proceeds from crude exports, made up over
2.754 million manats ($3.442 million), while expenses 1.292m manats
($1.615m) in January-March 2010, according to SOFAR.
Revenues from managing the Fund’s proceeds equaled 50m manats
($62.5m) in the first quarter of the year.
As of April 1, 2010, SOFAR’s assets exceeded the January level by
9.1% and constituted $16.243 billion.*
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