Baku 9° C
SOFAZ 2022 loss exceeds $3B
Finance
- 25 June, 2023
- 06:46
The State Oil Fund of Azerbaijan (SOFAZ) ended 2022 with 5,240.044 million manats ($3.08 billion), in net loss, while the Fund ended 2021 with 1,556.203 million manats ($0.92 billion) in net profit, Report informs.
As of January 1, the assets stood at 84,109.51 million manats ($49.48 billion), up 9.4% from a year earlier. The liabilities increased by 7.3% to 627.829 million manats ($369.31 million), and net worth surged 10.7% to 83,481.681 million manats ($49.11 billion).
Author
Latest News
12:31
Elčin Gasymov: SGC more important than ever in current geopolitical situation
Foreign policy12:28
Azerbaijani, Pakistani FMs discuss escalation in Middle East
Foreign policy12:26
Parviz Shahbazov outlines natural gas as strategic in meeting growing energy demand
Energy12:25
Ilham Aliyev congratulates President of Bulgaria
Foreign policy12:18
Drones target fuel tanks at Duqm Commercial Port in Oman
Other countries12:18
At least 31 Iranian troops killed in Israeli strikes
Region12:10
Azerbaijani ombudsman calls for new support mechanisms to address AI's labor impact
Social security11:55
Gas prices in Europe rise above $600 barrel due to Iran's closure of Strait of Hormuz
Energy11:44