BAKU, Azerbaijan, July 16. The state budget revenues of Azerbaijan's oil and gas sector from January through June 2024 amounted to 8.8 billion manat ($5.1 billion), which is 320.9 million manat ($188.7 million) or 3.8 percent more compared to the forecast for 2023, the data from the Ministry of Finance of Azerbaijan said, Trend reports.
Furthermore, this amount is 2.1 billion manat ($1.2 billion), or 32.3 percent more compared to the factual figure for 2023.
During the 6 months of 2024, 27.4 percent, or 2.4 million manat ($1.4 million), of oil and gas revenues to the state budget came from tax authorities, while 72.6 percent, or 6,3 million manat, came from the State Oil Fund of the Republic of Azerbaijan (in the form of a transfer).
"Of the oil and gas revenues received for the state budget from the tax authorities, 48.5 percent, or 1.1 billion manat ($647 million), was profit tax on the Shah Deniz field. Taxes paid by SOCAR accounted for 34.6 percent of the total taxes, or 833.3 million manat ($490.1 million). The AMOC consortium (Azeri-Chirag-Guneshli field block) contributed 406.9 million manat ($239.3 million) of profit tax," the data from the Ministry of Finance says.
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