Baku, Azerbaijan, Dec. 25
By Maksim Tsurkov – Trend:
As of Dec. 1, 2017, revenues of the State Oil Fund of Azerbaijan (SOFAZ) for the entire period of its activity amounted to $137.22 billion, a source in the Fund told Trend.
SOFAZ gets revenues both from the oil and gas sales and its investment activity.
"As of early December 2017, the Fund’s revenues from asset management for the whole period of its activity amounted to $4.8 billion," said the source. "This is while revenues from the sale of profit oil and gas for the same period amounted to $132.42 billion."
Total expenditures of SOFAZ amount to $100.4 billion.
SOFAZ was established in 1999, with initial assets worth $271 million. As of October 1, 2017, assets of SOFAZ increased by 8.67 percent, as compared to early 2017 ($33.147 billion) and amounted to $36.02 billion.