TODAY.AZ / Business

SOCAR pays to SOFAZ

23 August 2006 [10:03] - TODAY.AZ
SOCAR has started to transfer money to the State Oil Fund (SOFAZ) according to Article 3 of the Law on 2006 State Budget of the Azerbaijan Republic.

According to the law, if oil price is over $40 per barrel the SOCAR should pay SOFAZ the money remaining from the difference between the contract price of crude oil (after deduction of export expenditures) and price of oil sale in in-country), APA reports.

URL: http://www.today.az/news/business/29273.html

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