For October 1, assets of the State Oil Fund of Azerbaijan (SOFAR) amounted to $ 37 305 300 , reads the statement of SOFAR. According to the same source, assets increased by 3.98% compared with the beginning of the year ($ 35 877 500 000.) However, for July 1 SOFAR assets amounted to $ 37 622 400 000, that is, for the third quarter assets decreased by $ 317.1 million.
Peak revenue in SOFAR occurred in 2011, amounting to 15 628 300 manat per year. After that, decrease of income is observed.
The highest decrease was recorded in 2012, when the one-year earnings declined by $ 2 billion dollars. This happened against a sharp drop in production in the fields "Azeri-Chirag." -12A--
Economics
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The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
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Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
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