Azeri-Chirag-Gunashli (ACG) and Shah Deniz projects forecast 280M and 325M manats income tax growth, respectively, due to increased "Azeri Light"

ACG and Shah Deniz forecast positive income tax growth this year: Azeri-Chirag-Gunashli (ACG) project income tax forecast at 280 million manats (75.7%), while Shah Deniz's is expected to increase by 325 million manats (20.2%). This is due to a rise in the average export price of "Azeri Light" crude oil to 75 USD, up from 60 USD. Consequently, 43.7% or 2 billion manats of tax revenues in the oil and gas sector are taxes on State Oil.

July 30, 2024
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