Dividend payments by Azerbaijan's State Oil Company (SOCAR) to the State Oil Fund of Azerbaijan (SOFAZ) for 2025 and 2026 will be deferred and paid in equal instalments between 2027 and 2040, according to a report by the Chamber of Accounts.
The recommendation was included in the Chamber's report on the audit of SOFAZ's revenue formation and expenditure, Caliber.Az reports, citing local media.
Under a protocol signed on Dec. 18, 2025, between SOCAR, the Ministry of Economy and the Ministry of Finance, dividends totalling $529 million for 2025 and 2026 — $46 million and $483 million, respectively — will be paid in equal annual instalments over the 2027–2040 period.
The report noted that because SOCAR did not transfer dividends last year, the $123.2 million payment envisaged under the protocol for 2025 was not made.
The Chamber of Accounts recommended strengthening oversight of budget plans related to dividend transfers to SOFAZ, improving the accuracy of revenue forecasts from state-owned enterprises, and ensuring compliance with regulatory requirements.
By Bakhtiyar Abbasov
