The State Oil Fund of Azerbaijan (SOFAR) posted today in the vaults of the Central Bank of Azerbaijan, another ton of gold (32,150 ounces). Thus, the amount of gold brought into the country amounted to about 2 tonnes (64,300 troy ounces).
As the fund reported as of February 1, 2013 gold reserves SOFAR reached 16,178 kilograms (520,145 ounces).
From the 1st of February last year started the acquisition of gold bullion (at week 10 ounces) by the banks - market maker members of the London Association of precious metals market participants.
According to the investment policy of the SOFAR to 5% of the total value of the investment portfolio may be invested in gold. - 15D -
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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