On a record… oil and gas revenues in Russia are rising

Russia’s oil and gas tax revenues nearly doubled in March from a year earlier, as global prices for the country’s crude oil jumped and its producers adapted to sanctions.

Budget revenues from oil and gas royalties rose 90% last month year-on-year, reaching nearly 1.31 trillion rubles ($14.1 billion), the Finance Ministry said on Wednesday.

Taxes on crude oil and petroleum products — which accounted for more than 86% of total oil and gas revenues last month — contributed most of the increase, according to Bloomberg News’ data-based calculations. (Bloomberg)

Source:
Bloomberg

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