The State Oil Fund of Azerbaijan (SOFAR) posted on Friday, 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 was about 3 tons (96,450 troy ounces).
According to the report of the Fund as at March 1, 2013 the gold reserves SOFAR reached 17,422 kilograms (560,145 ounces).
From February 1, last year began buying gold bullion (at week 10 ounces) in the bank are members of the Associated Market Makers precious metals market in London.
According to the investment policy of the SOFAR up to 5% of the total value of the investment portfolio may be invested in gold. - 15D -
Economics
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Azerbaijan’s State Oil Fund (SOFAZ) reported a 10.7% decline in revenues from the Azeri-Chirag-Gunashli (ACG) oil field block in 2024, amounting to $740.7 million less than the previous year. Total earnings from ACG from the start of 2024 until January 1 stood at $6.16 billion, down from $6.89 billion over the same period in 2023, according to SOFAZ.
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