IN RUSSIAN

Azerbaijan State Oil Fund to invest in Russia

23 July 2012 - 6:38pm

The revenues of the SOFAR in the first half of 2012 amounted to 7.3919 billion manats, with expenditure at 4.8781 billion manats, the executive director of the Fund, Shakhmar Movsumov, said at a press conference devoted to the results of work in the first half of the year. According to him, the majority of the income to the Fund, 95.9%, are revenues from oil and gas exports. Revenues from oil contracts are at the level of 7.0998 billion manats and from transit payments – 3.8 billion manats.

SOFAR spent 162.5 billion manats on arrangements directed at improvement of social conditions of refugees and forced settlers. 67 million manats were spent on the project of reconstruction of the Samur-Absheron Melioration System.

Transfers to the state budget amounted to 4.5923 billion manats. 5 million manats were spent on education of Azerbaijani students abroad within the state program for 2007-2015. Moreover, 37 million manats were allocated for the project of construction of the new Baku-Tbilisi-Kars railroad.

14.3 million manats were spent on the Fund’s management.

SOFAR's active assets had increased 9.6% by July 1, 2012, in comparison with the beginning of the year and amounted to $32.666 billion.

SOFAR is considering real estate facilities in countries of Europe and South-East Asia for investment, Movsumov said. “For instance, the Fund is considering real estate facilities in London, Paris, Rome, Moscow and Istanbul, as well as in Singapore, Malaysia and Indonesia,” the head of the Fund said.

SOFAR plans to invest in capital stock in September 2012.

Read also

Oct 31 2014 - 15:37
Azerbaijan remains the main importer of Georgian products, about 19.8% of the products Georgia exported were shipped to Azerbaijan in January-September 2014. The products are worth $425.79 million.The volume of Georgian exports to Azerbaijan dropped by 19.4% compared with the volume in January-September 2013. The volume then amounted to $528.59 million.
Oct 30 2014 - 01:14
 From 9 December 2014 JSC Azerbaijani Airlines (AZAL) will double the number of flights it operates between Baku and Tel Aviv.From this day regular flights between Baku and Tel-Aviv will be carried out on Sundays and on Tuesdays. Today flights operate only on Sundays, APA reports. 
Oct 28 2014 - 21:12
The Minister of Agriculture and Rural Development of Poland, Marek Sawicki, will arrive in Azerbaijan on November 3rd. He will head a delegation of heads of veterinary and phytosanitary inspectorates and representatives of agricultural producers, the Polish Embassy in Azerbaijan reports.Sawicki will meet the Minister of Agriculture of Azerbaijan, Heydar Asadov, and representatives of the agricultural sector of Azerbaijan. The sides will discuss prospects for cooperation. 
Oct 28 2014 - 17:39
The World Bank gas begun a systemic diagnosis of the country as part of preparations for a new partnership strategy for the Azerbaijan – Country Partnership Framework. It will replace the Country Partnership Strategy.The diagnosis is based on analytical and statistical materials which have been collected by departments of the Bank, the Baku office of the Bank reports.The first results could be presented in early winter.  
Oct 27 2014 - 14:22
The Healthcare Ministry of Azerbaijan has purchased special equipment for protection from Ebola for the Anti-Plague Station. Shaira Gurbanova, deputy director of the station, said that 100 sets of clothes for personnel of the laboratory and tests have been received, Trend reports.The new equipment has level 3 and 4 protection.Azerbaijan has all it needs for Ebola research, Gurbanov clarified.

Archive