BAKU, Azerbaijan, October 16. Azerbaijan's state budget revenues from the oil and gas sector amounted to 13.2 billion manat ($7.7 billion) from January through September 2024, which is 176.1 million manat ($103.5 million) or 1.3 percent less compared to the forecast, and 4.2 billion manat ($2.4 billion) or 47.6 percent more compared to the same period of 2023.
The data obtained by Trend from the country's Ministry of Finance shows that in the reporting period, 27.4 percent, or 3.6 billion manat ($2.1 billion), of state budget revenues from the oil and gas sector were received through the tax authorities, while 72.6 percent, or 9.5 billion manat ($5.5 billion), were received through transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget.
Of the oil and gas revenues received by the state budget through the tax authorities, 47.8 percent or 1.7 billion manat ($1 billion) are income tax revenues from the Shah Deniz field project, 36.8 percent or 1.3 billion manat ($764 million) are relevant taxes paid by the State Oil Company (SOCAR), and 15.4 percent or 558 million manat ($328.2 million) are income taxes from the Azeri-Chirag-Gunashli project.
To note, the state budget revenues for the mentioned period exceeded 27.7 billion manat ($16.2 billion), which is 25.6 percent more compared to the same period of last year.