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Russia’s oil and gas revenues soar – media

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Oil and gas revenues are up nearly 80% from last year, helped by rising prices as well as a one-time tax payment from oil companies.

Russia reported a sharp rise in profits in the first quarter, thanks in part to a one-time tax payment and rising oil prices. Bloomberg reported this on Monday, April 8.

The Russian Ministry of Finance notes that there is a “sustained positive trend” in the flow of money to the federal budget. Revenues for the three months reached 8.7 trillion. rubles ($94 billion), which is 53.5% more than the same period last year.

Financial receipts from non-energy industries grew 43% year-on-year, the Finance Ministry said, including “one-time” payments from foreign companies leaving Russia.

And revenues from oil and gas sales rose nearly 80% compared to last year, helped by rising prices as well as a one-time tax payment from oil companies.

Earlier it was reported that the oil and gas revenues of the Russian Federation almost doubled in the year.

Oil prices rose to a six-month high
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Source: korrespondent

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