Azeri oil fund’s revenues top $15bn in nine months
Revenues of Sofar, the state oil fund that holds Azerbaijan’s revenues from crude exports, amounted to over 11.831 billion manats ($15.167 billion), while expenses – to 4.336 billion manats ($5.558 billion) in the first nine months of 2011.
Proceeds from the implementation of oil and gas contracts made up $14.958bn, including $14.712bn received from profit oil and sale of gas, according to Sofar.
About $5.155bn of the total expenses was transferred to the state budget in January-September.
Sofar’s assets increased 41.6 percent in this period to around $32.242bn.
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