Azerbaijan's Oil, Gas Budget Revenues Exceed Forecast By 5.1% In Nine Months

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 29. Revenues to Azerbaijan's state budget from the oil and gas sector in the period from January through September 2026 totaled 12.9 billion manat ($7.59 billion), exceeding the forecast by 625.5 million manat ($367.9 million), or 5.1%.

According to the Azerbaijani Ministry of Finance, 25.5% of the state budget's oil and gas revenues, or 3.3 billion manat ($1.9 billion), came from tax authorities.

Another 74.5% or 9.62 billion manat ($5.6 billion) came from a transfer from the State Oil Fund of Azerbaijan (SOFAZ).

"At the same time, the amount of the transfer from SOFAZ decreased by 1.23 billion manat ($732.5 million), or 11.4%, compared to the same period in 2025.

Within the structure of oil and gas revenues collected by tax authorities, 39.4% or 1.3 billion manat ($764.7 million) consisted of relevant taxes paid by the State Oil Company of Azerbaijan (SOCAR).

Another 46.6%, or 1.53 billion manat ($899.9 million), came from income tax related to the Shah Deniz gas condensate project, while 14%, or 461.1 million manat ($271.2 million), came from income tax related to the Azeri-Chirag-Guneshli project," the ministry reported.

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