SOFAZ earns nearly $8B so far

The State Oil Fund of Azerbaijan (SOFAZ) earned a total of $7.8 billion in revenue from the date of its establishment until the end of 2022, Report informs, citing the financial (audit) report of the Fund for 2022.

According to the document, it means 2.3% profitability in annual terms. Last year, the Fund faced a 5.2%-loss.

In addition, the report states that by the end of 2022, SOFAZ investments covered 66 countries and 17 currencies.