Industry and Energy

Industry and Energy

Profit tax from ACG project projected to drop, Shah Deniz to see slight increase in 2026

23 October 2025 15:47 (UTC +04:00)

In 2026, profit tax under the Azeri-Chirag-Gunashli (ACG) project within the framework of the Production Sharing Agreements (PSA) is projected at 300 million manats, which is 150 million manats or 33.3 percent less than the forecast for the current year, and 365 million manats or 2.2 times lower compared to the actual figure for 2024, APA-Economics reports.

This is reflected in the draft of the 2026 budget package.

It was noted that the decrease compared to the 2025 budget revenue forecast is due to a reduction of 3.9 million barrels (10.7 thousand barrels per day) in oil production under the ACG project, as well as the average sale price of Azeri Light crude oil being projected at 65.0 US dollars per barrel, which is 5.0 US dollars lower than the current year's forecast, along with an increase in operational and capital expenditures.

Profit tax under the Shah Deniz project is projected at 1.6 billion manats, which is 100 million manats or 6.7 percent higher than the forecast for 2025, but 741.0 million manats or 31.7 percent lower compared to the actual figure for 2024. The increase compared to the 2025 forecast is associated with the average sale price of natural gas being taken 8.3 percent or 20 US dollars higher than the indicator envisaged for the current year.