Page 90 - Russia OUTLOOK 2024
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Oil and gas revenues recover
OIl and gas revenues were recovering rapidly in the second half of 2023.
Russia’s budget revenues from the oil and gas sector rose by 15% in September m/m to RUB739.9bn ($7.4bn), according to figures provided by the Finance Ministry. In January-September 2023 those revenues reached RUB5.576 trillion ($56bn). The increase in September revenues was mainly due to the mineral extraction tax, which brought RUB1.087 trillion ($10.9bn) to the Russian budget (up by 24% compared with August). Budget revenues from collection of the export duty also rose – by 35% to RUB105.9bn ($1bn).
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