Baku: As of December 31, 2024, the assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) saw an increase of 7.1% compared to the beginning of 2024, reaching USD 60,031.4 million from USD 56,069.7 million, according to SOFAZ, APA-Economics reports.
According to Azeri-Press News Agency, SOFAZ’s budget revenues for the period of January to December 2024 amounted to AZN 18,039.0 million, with budget expenditures totaling AZN 12,896.4 million.
During the same period, SOFAZ generated revenues of AZN 12,243.7 million from oil and gas agreements. This includes AZN 11,461.4 million from the sale of profit oil and gas, AZN 778.2 million in bonus payments, AZN 0.5 million in transit revenues, and AZN 3.6 million from acreage payments.
The Fund’s asset management yielded an investment income of 5,795.3 million manat, with a 6% return on the investment portfolio.