Azerbaijan's State Oil Fund finds assets growing
The assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ), as of early April 2024, amounted to nearly $57.3 billion, News.Az reports.
"In the first quarter of 2024, assets grew by 2.3 percent, or $1.3 billion," the information noted.
Meanwhile, at the beginning of 2024, the assets of the State Oil Fund amounted to $56 billion.
To note, as of April 1, 2023, SOFAZ assets amounted to $53.4 billion.
The Fund has been functioning since December 1999 and accumulates revenues from the realization of international oil and gas contracts by Azerbaijan.
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