Page 77 - RusRPTNov23

Russia’s revenues from oil supplies to other countries increased by $1.8bn in September 2023 to $18.8bn amid an increase in exports by 460,000 barrels per day, hitting a record level since July 2022, the International Energy Agency (IEA) said in a report.
Exports of oil and petroleum products from Russia added 460,000 barrels per day to 7.6mn barrels per day, with crude exports having risen by 250,000 barrels per day, according to the report.
The average price of Russia’s Urals crude oil rose by $8 to $81.8 per barrel, while the discount on it dropped to the lowest level since March.
The Russian government approved a number of new systemic measures for maintaining stability in the fuel market on October 6. In particular, it was decided to amend the Tax Code and resume, effective October 1, the parameters of the fuel damper mechanism that were adjusted starting from September 1. Russia is also lifting restrictions on exports of diesel fuel via pipelines to seaports for producers that supply at least 50% of diesel fuel produced to the local market. The authorities also stepped up demands for the sale of Class 5 gasoline and diesel on exchanges by oil producers from 13% to 15% and from 9.5% to 12.5%, respectively, which is expected to raise the guaranteed volume of supply of demanded fuel on exchanges and increase the volume of transactions under competitive terms.
Russia’s federal budget may receive 513.48bn rubles ($5.1bn) worth of additional oil and gas revenues in October, according to a statement released on the Finance Ministry’s website.
"Additional oil and gas revenues of the federal budget are projected at 513.48bn rubles in October 2023. The deviation of virtual oil and gas revenues from the expected monthly amount of oil and gas revenues amounted to -114.76bn rubles in September 2023," the statement reads.
The Russian Ministry of Finance anticipates a significant boost in oil and gas budget revenues for October, with expected receipts of around 1.2
77 RUSSIA Country Report November 2023 www.intellinews.com