Assets of SOFAZ reach $58B

As of July 1, 2024, the assets of Azerbaijan’s State Oil Fund (SOFAZ) amounted to $58 billion, having increased by 3.4% compared to the beginning of the year, Report informs, citing SOFAZ.

In January-June, SOFAZ budget revenues amounted to 9.25 billion manats ($5.44 billion), while expenses were 6.41 billion manats ($3.77 billion).

During the reporting period, SOFAZ’s income from the implementation of oil and gas contracts amounted to 6.44 billion manats ($3.78 billion). SOFAZ earned 2.82 billion manats ($1.65 billion) from managing funds.