Azerbaijan's oil, gas budget revenues exceed forecast by 5.1% in nine months

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.