Breaking Update
The Tax Authority’s forecast for oil and gas profit levy collection has risen to 57-74 billion dollars
The Tax Authority today published an updated forecast for the collection of levies on oil profits and excess profits from natural resources in the coming years.
The Tax Authority today published an updated forecast for the collection of levies on oil profits and excess profits from natural resources in the coming years. The forecast is higher than the previous forecast, mainly due to an increase in the forecast for the amount of gas in the Leviathan reservoir, despite the fact that a year has passed, and also because the Katlan reservoir (from the Energian Group) was added to the forecast, which received possession from the Ministry of Energy shortly after the previous year’s forecast.
Oil and gas profit levy collection forecast
| Forecast for oil and gas profit levy collection in the coming years | Maximum (in millions of $) | Minimum (in millions of $) |
| 2025 | 400 | 290 |
| 2026 | 840 | 550 |
| 2027 | 1,910 | 1,240 |
| 2028 | 2,450 | 1,960 |
| 2029 | 2,730 | 2,270 |
| 2030 | 2,780 | 2,420 |
| 2031 | 3,100 | 2,730 |
| 2032 | 2,980 | 2,640 |
| 2033 | 2,910 | 2,530 |
| 2034 | 2,990 | 2,610 |
| Total forecast for oil and gas profit levy collection in the coming decade | 23,090 | 19,240 |
| Forecast for collection of oil and gas profit levy in the remaining years | 50,920 | 37,890 |
| Total oil and gas profit levy collection forecast starting in 2025 | 74,010 | 57,130 |
Note: The levies that will be collected are expected to be final on average about a year after they are collected.
