Azerbaijan, Baku / Trend / In the first half year, the State Oil Company of Azerbaijan (SOCAR) transferred AZN 810,570,000 to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of the profit oil, an increase of AZN 378,379,000 from the same period of last year, a source stated in SOCAR.
Over the first half year, SOCAR transferred AZN 2,128,794,39 to SOFAZ as a difference from the export and internal oil prices. In accordance with the Law on the State Budget, if the price of the exported oil exceeds $40 per barrel, the difference between the contract (sale) price and the internal wholesale price of oil should be transferred by SOCAR to SOFAZ.