First assignments of Marketing and Economic Operations Department within State Oil Company of Azerbaijan (SOCAR) to State Oil Fund of Azerbaijan (SOFAZ) from difference between contract (sale) price (excluding export fees) and price in the republics internal market amounted 5.3mln manat, SOFAZ officials told Trend.
Regardless of that state budget-2006 envisages crude oil price in amount $50/bbl, the mechanism of extra profits assigning remained the same. Officials of the Ministry of Finance told Trend his is linked to the prices for oil products that cannot be controlled.
According to the mechanism approved, 50% of extra revenues (at oil price $40 to $50) and 75% in case oil price exceeds $50 shall be transferred to SOFAZ.