The presidential decree approving the draft budget execution of the State Oil Fund of Azerbaijan (SOFAZ) for the previous year has been released.
The document says that last year's budget was executed with a predominance of income over expenditure of $ 2 billion 613 million 809.3 thousand manats. That is, revenues were more than 12.73 billion manats (+ 9.5% of the forecast), expenses - 10.11 billion manats (minus 4.5% of the forecast).
Almost all of the revenue (12.32 billion manats) accounted for revenues from oil and gas sales, the proceeds of asset management, including foreign ones were 387 million 204.8 thousand manats.
Almost all the expenses occurred in the transfer to the state budget (9.34 billion manats) in appropriations for the improvement of social and living conditions of refugees and IDPs spent 299 million 998.2 thousand manats. --17D--
Economics
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Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), and Oleg Korobchenko, Deputy Prime Minister and Minister of Industry and Trade of the Republic of Tatarstan, discussed cooperation and expressed satisfaction with the partnership between SOCAR and the Russian oil company Tatneft.
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BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
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