Industry and Energy

Home page

Industry and Energy

SOFAR discloses average weighted value of net income from crude oil sale for last year

08 January 2020 15:53 (UTC +04:00)

Last year the average weighted value of the net income from sale of one barrel of crude oil received by State Oil Fund of Azerbaijan Republic (SOFAR) amounted to US$64, the State Oil Fund told "APA-Economics".

"The average weighted value of the net income from sale of one barrel of crude oil received by SOFAR was US$ 71.2 in 2018 and US$ 64 in 2019", the Fund noted.
Thus the average weighted value of the net income from sale of one barrel of crude oil received by SOFAR decreased by US$ 7.2 or 10.1% compared with 2018.
Remind that Ibrahim Ahmadov, Deputy Head of Public Relations and Events’ Organization Department of SOCAR said last year the average price of one barrel of oil of "Azeri Light" (CIF) brand was US$ 66.79. The year before last the average price of one barrel of oil of "Azeri Light" brand was US$ 73.3. And this means that compared with 2018, last year the average price of oil of "Azeri Light" brand decreased by about US$ 6.51 or 9%.