According to Mr Natig Aliyev Azerbaijani Minister of Industry and Energy, Azerbaijan annual income from selling oil and gas varies from between USD 15 billion to USD 20 billion each year.

He said that "The volume of revenues from selling hydrocarbons varies depending on the oil price. The main part of earnings falls to oil."

Mr Shahmar Movsumov head of the State Oil Fund of Azerbaijan told TV channel TRT on Thursday that the fund has received more than USD 60 billion since its establishment. The most part was accumulated and managed by the fund.

He said that "At present, there is USD 32 billion in SOFAZ. He added that some of SOFAZ's funds are transferred annually to the state budget in the form of transfers. In particular, SOFAZ's transfers amounted to about nine billion manat this year. The figure is expected to reach 10 billion manat or about USD 12 billion next year.”

(Sourced from www.news.az)