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In January-October 2023, the Oil Fund increased gas revenues from the “Shah Deniz” project by 5%
Baku/06.11.23//Turan: In January-October 2023, the revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) from the sale of profitable gas and condensate extracted from the “Shah Deniz” field amounted to $1 billion 183 million, the SOFAR press service.
During the reporting period, SOFAR's revenues from the “Shah Deniz” project decreased by 2.2%; revenues from the sale of condensate amounted to $259,554 million (a decline of 21%), natural gas - $923,446 million (an increase of 4.9%).
By the end of 2022, revenues to SOFAZ from the “Shah Deniz” project amounted to $1 billion 443 million. Last year, the income of the Oil Fund of Azerbaijan from “Shah Deniz” exceeded the billion dollars for the first time. --0-
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- In World
- 6 November 2023 06:50
Energy
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From January to May 2024, Azerbaijan imported 616.2 thousand tons of oil Russia, a third more compared to last year, Interfax reports. In monetary terms, the cost of imported Russian oil has also risen by almost a third — to $339 million. In total, Azerbaijan purchased 742.3 thousand tons of black gold in the first five months of this year (+18% compared to January-May 2023) for $416 million. Thus, Russia's share in Azerbaijani crude oil imports amounted to 83%.
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Azerbaijani gas supplies to Serbia may be increased in the foreseeable future, the parties are currently discussing this issue, the Minister of Labor and Social Protection of the Population of Azerbaijan Sahil Babayev told journalists.
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