Azerbaijan State Oil Fund assets surpass $58 billion
As of July 1, 2024, the assets of Azerbaijan’s State Oil Fund (SOFAZ) have reached $58 billion, marking a 3.4% increase since the beginning of the year, the SOFAZ’s press service told News.Az.
During the first half of the year, SOFAZ's budget revenues amounted to 9.25 billion manats ($5.44 billion), while expenses totaled 6.41 billion manats ($3.77 billion).In this period, SOFAZ generated 6.44 billion manats ($3.78 billion) from oil and gas contracts and earned 2.82 billion manats ($1.65 billion) from managing its funds.
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