Azerbaijan's SOFAZ net profit jumps 3.4-fold to 26.9 billion manat in 2025

The State Oil Fund of Azerbaijan (SOFAZ) ended 2025 with a net profit of 26.9 billion manat ($15.8 billion), 3.4 times higher than in 2024, according to calculations by Trend based on the fund's financial statements. Its total comprehensive income reached 27.36 billion manat ($16.1 billion), compared with 7.5 billion manat ($4.4 billion) in 2024.

Investments in gold bars were the largest contributor to investment income. Income from gold reached 16.85 billion manat ($9.91 billion), nearly five times the 3.39 billion manat ($1.99 billion) recorded a year earlier. Income from bond investments rose to 4.14 billion manat ($2.44 billion), and income from equity investments reached 5.292 billion manat ($3.11 billion), up 64.7% year on year.

Operating expenses rose 78.2% to 140.93 million manat ($82.9 million). As of January 1, 2026, SOFAZ's assets totaled 125.72 billion manat ($73.95 billion), up 22.5% year on year. The fund was established by a presidential decree dated December 29, 1999.