Russia earned Rbs8.82 trillion($98.7bn)from the oil and gas sector in 2023,down by almost a quarter on the year but in line with expectations,the finance ministry says.December oil and gas revenue was Rbs650.5bn,32pc lower on the month.Proceeds from gas mineral extraction tax and export ...
"The sanctions will not target the oil flows as we go forward," Amos Hochstein, the State Department's senior energy security adviser, said in an interview on Bloomberg Television. Hochstein said doing so won't necessarily reduce Russia's oil and gas revenue, and may instead lead to a scen...
the U.S. is taking aim at the heart of the Russian economy: its energy sector. President Biden on Tuesday announced aU.S. ban on Russian oil and gas importsover the country'sinvasion of Ukraine, a direct hit on Russian President Vladimir Putin's main revenue source as Russian forces cont...
A senior Japanese economist traces the flows of revenue derived from oil and gas exports through the Russian economy. The author examines the use of revenues and investigates their contribution to Russia's state and regional budgets in the form of taxes. After detailing the methodological difficultie...
Natural gas is one of the commodities most affected by the Russian invasion of Ukraine. Russia's second-major source of fossil fuel revenue after oil, it had an export value of over 145 billion euros between February 24, 2022, and June 18, 2024. Russia is the second-largest natural gas ...
In 2011 50% of state income came from oil & gas. Figure 3 – Oil & Gas Revenues from 2002 to 2011. Source: Presentation by Barry Wicks of Pennstate department of economics To reduce revenue from your major source of income is always difficult to achieve politically. The rising oil price...
Russia's crude oil and gas production and exports are estimated to have fallen last year under Moscow's Opec-plus supply cutcommitments - and as the West intensifi ed pressure against the oil and gas sector in response to Moscow's invasion of Ukraine. Russia stopped publishing offi cial prod...
Russia is the third-largest producer of oil worldwide, accounting for over 12 percent of global crude oil production. Rich in natural resources, the country concentrates its energy production in the West Siberia and Volga-Ural oil and gas provinces. The oil industry was privatized after the ...
President Joe Biden has banned imports of Russian oil and gas into the US as Washington steps up economic sanctions on Moscow over the invasion of Ukraine in an attempt to deprive it of revenue. The move was matched by a UK phase-out of Russian oil imports, but the EU did not follow ...
Oil and natural gas companies are a crucial part of Russia's economy and vital to its energy sector. The country has some of the largest multinational oil and gas companies in the world because it also has some of the largest known reserves. Russia had 80 billion barrels of proved reserves...