ID :
194875
Wed, 07/13/2011 - 18:24
Auther :

Azerbaijan State Oil Fund assets may exceed $50bn

Baku, July 13 (AzerTAc). In case if expenses of SOFAZ are maintained at the current level, in coming 5 years the Fund`s assets may exceed $50 billion depending mainly on oil price.
The statement came from executive director of SOFAZ Shahmar Movsumov in his interview to New Azerbaijan Party`s website.
To him, within 6 months of 2011, incomes made AZN 7,925.3m or $10,002.8m. 96% or AZN 7, 611.2m of incomes came from the sale of hydrocarbon resources.
As a result of high price of crude oil at world oil markets, assets of SOFAZ made $30.4 bn as of July 1, 2011, by rising $7.6 bn within 6 months.

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