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Russia’s Oil Revenues Drop 17% Despite a 13-Year High for Urals Crude
Finance ministry data showed oil and gas tax proceeds fell to 5.47 trillion roubles as Ukrainian attacks and a stronger rouble offset higher crude prices.
Russian energy tax revenues from oil and natural gas production dropped by 17% to $64.43 billion during the first nine months of the year, despite global crude prices climbing to their highest levels in over a decade, according to data released by the Russian Ministry of Finance, as reported by Reuters on October 5.
The fall in production, the attacks on the oil infrastructure and the strengthening of the ruble have offset the effect of rising prices for Russian oil.
Russia's energy revenues have fallen 17% this year, despite the fact that the price of crude oil has reached record highs in the past…
Russia's oil revenues are falling, despite rising prices - NAVAL TRADE