State Oil Fund Discloses Current Year's Revenues From Shah Deniz Field

2024-05-07 06:08:35

(MENAFN- AzerNews) Nazrin Abdul, AZERNEWS

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) hasreported earnings of $202.715 million from the Shah Deniz field(gas and condensate) from the beginning of this year up to May 1st, Azernews reports citing The State Oil Fund.

Revenues from the Shah Deniz field have experienced a drasticdecline, plummeting by 4.6 times compared to the correspondingperiod last year.

Notably, revenues from condensate sales on the Shah Deniz fieldhave seen a staggering 3.2 times decrease during this period,amounting to $60.784 million.

This downturn in revenues underscores the challenges facing theenergy sector, necessitating a closer examination of marketconditions and potential strategies for recovery.

MENAFN07052024000195011045ID1108182259

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.