TODAY.AZ / Business

SOFAZ revenues reach AZN 986mln

31 January 2007 [10:40] - TODAY.AZ
Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2006 reached 985.9 million manats (AZN) while budget expenditures constituted AZN 981.3mln, the SOFAZ Executive Director, Shahmar Movsumov, told a press conference.

"Revenue of AZN 930mln was received from implementation of oil and gas agreements, including AZN 896.3mln from the sale of profit oil, AZN 12.7mln as transit fees, AZN 1.8mln as bonus payments, AZN 7.6mln as acreage payments and AZN 0.6mln from sale of assets received from foreign companies under PSAs and AZN 11mln was received from State Oil Company of the Republic of Azerbaijan as the price difference between the contract value and domestic wholesale price of exported oil," he noted.

He said the revenues from managing assets of the Fund for 2006 amounted to AZN 55.9mln, APA reports.

URL: http://www.today.az/news/business/35674.html

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