Russia oil export revenue

The supply of cheap oil is running out, and Russia's best hope of responding to government has become increasingly dependent on revenue from oil exports.

Oil and gas exports account for around 40 percent of Russia’s federal budget revenues. Russia’s revenues from oil and gas sales are now expected at US$44.4 billion (2.74 trillion Russian rubles) for 2018, up from US$8.5 billion (527.6 billion rubles), according to a budget amendment by the Finance Ministry. Asia (especially China) receives substantial volumes of crude oil and some liquefied natural gas (LNG) from Russia. Recently, Russia finalized a 30-year, $400 billion deal to supply China with natural gas from fields in Eastern Siberia, which will further increase Russian export revenues. Russia’s oil and natural gas industry is a key component of Russia’s economy, with revenues from oil and natural gas activities—including exports—making up 36% of Russia’s federal budget revenues. Crude oil trade is important to both Russia and Europe: about 70% of Russia’s crude oil exports in 2016 went to European countries, particularly the Netherlands, Germany, Poland, and Belarus. Russia reports oil-export revenue in both metric tons and dollars. According to Russia’s Federal Customs Service, from January to October 2016, Russia exported $59.6 billion worth of oil. That’s about 213 million metric tons of crude. Converting metric tons to barrels for crude is not simple. But net exporters suffer when the oil price drops. The price of oil and Russia's economy have the opposite relationship. When oil prices drop, Russia suffers greatly. Oil and gas are responsible for more than 60% of Russia's exports and provide more than 30% of the country's gross domestic product (GDP). Russia produced an average of 10.83 million barrels (1,722,000 m 3) of oil per day in December 2015. It produces 12% of the world's oil and has a similar share of global oil exports. In June 2006, Russian crude oil and condensate production reached the post-Soviet maximum of 9.7 million barrels (1,540,000 m 3) per day.

3 Jul 2014 Exports are vital to the health of the Russian energy sector. tax on oil and natural gas amounted to half of federal budgetary income.

U.S. President Donald Trump’s sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil, boosting revenues for the nation’s exporters. Russian oil companies received at least $905 million in additional revenues between November and July, data compiled by Bloomberg show. Crude exports from Russia continue to grow in physical terms. The country increased sales to CIS countries by 2.8 percent, while exports to non-CIS countries grew by 4.5 percent. However, revenues from exports to non-CIS countries fell to $13 billion compared to $21 billion a year earlier, while income from oil sales to the CIS saw a 25 percent decline. At the same time, revenues from oil exports to non-CIS countries grew to $50.23 billion, marking a 37.5 percent growth. Overall, crude exports amounted to 149.05 million tons, of which 138 million tons were shipped to non-CIS countries. Though Russia exported slightly less petroleum and other oil products, Russia Crude Oil: Exports. 1980 - 2018 | Yearly | Barrel/Day th | Organization of the Petroleum Exporting Countries. Russia’s Crude Oil: Exports was reported at 5,069.103 Barrel/Day th in Dec 2018. This records an increase from the previous number of 5,061.500 Barrel/Day th for Dec 2017.

Russia's budget revenues largely depend on the company's export earnings. Exports gas condensate, oil, petroleum products, liquefied hydrocarbon gases 

Oil & Gas Laws and Regulations covering issues in Russia of Overview of An important export trend in 2018 was the reallocation of export flows of Russian oil, achieved, increase the oil recovery factor and increase industry tax revenues. 9 Mar 2020 The price of the Russian export grade Urals dropped to below $42.40 Those assets are enough to compensate for lower oil revenues due to  The overall balance of Russian oil sector was composed through the less income for the federal budget still very much reliant on hydrocarbon revenues. Just under a half of crude oil, produced in Russia is exported (275 million out of 555  oil buyers to reduce purchases, with the goal of limiting Iran's oil export revenue.

1 Apr 2019 export revenues. The greatest drag on the value of product exports was high- sulphur fuel oil. In 2012 the share of fuel oil in Russian product 

14 Nov 2017 Russia exports crude oil to China using the East Siberia-Pacific Ocean with revenues from oil and natural gas activities, including exports,  3 Jul 2014 Exports are vital to the health of the Russian energy sector. tax on oil and natural gas amounted to half of federal budgetary income. 1 Sep 2013 "Oil and petrochemical export revenue dropped by 45% in the [first] nine months," Alexei Kudrin said. He said Russian crude exporters earned  The supply of cheap oil is running out, and Russia's best hope of responding to government has become increasingly dependent on revenue from oil exports.

At the same time, revenues from oil exports to non-CIS countries grew to $50.23 billion, marking a 37.5 percent growth. Overall, crude exports amounted to 149.05 million tons, of which 138 million tons were shipped to non-CIS countries. Though Russia exported slightly less petroleum and other oil products,

29 May 2013 (Unlike oil, Russia's natural gas production escaped large-scale privatization So long as the regime continues to regard export revenues as a  Exports in Russia increased to 32476 USD Million in June from 31592 USD Million in May of 2019. Exports in Russia averaged 22211.50 USD Million from 1994 until 2019, reaching an all time high of 50248 USD Million in December of 2011 and a record low of 4100 USD Million in January of 1994. The revenues of Russia’s exporters are decreasing in the dollar terms due to the fall in the global price of oil. Prices fell from their mid-2014 peak of over $100 a barrel to a January low of $28, before rebounding to the current $49 per barrel. Crude oil export volume from Russia 2008-2019 Annual crude oil exports in the Emirate of Abu Dhabi 2010-2018 Value of crude oil exports worldwide by exporting country 2018 Oil and gas exports account for around 40 percent of Russia’s federal budget revenues. Russia’s revenues from oil and gas sales are now expected at US$44.4 billion (2.74 trillion Russian rubles) for 2018, up from US$8.5 billion (527.6 billion rubles), according to a budget amendment by the Finance Ministry. Asia (especially China) receives substantial volumes of crude oil and some liquefied natural gas (LNG) from Russia. Recently, Russia finalized a 30-year, $400 billion deal to supply China with natural gas from fields in Eastern Siberia, which will further increase Russian export revenues. Russia’s oil and natural gas industry is a key component of Russia’s economy, with revenues from oil and natural gas activities—including exports—making up 36% of Russia’s federal budget revenues. Crude oil trade is important to both Russia and Europe: about 70% of Russia’s crude oil exports in 2016 went to European countries, particularly the Netherlands, Germany, Poland, and Belarus.

Russia: Revenue minus production cost of oil, percent of GDP: For that indicator, The World Bank provides data for Russia from 1988 to 2017. The average  14 May 2018 Oil and gas exports account for around 40 percent of Russia's federal budget revenues. Russia's revenues from oil and gas sales are now  Russia's Crude Oil: Exports was reported at 5069.103 Barrel/Day th in Dec 2018. Russia's Crude Oil: Exports data remains active status in CEIC and is Communication Services Revenue: Rendered to Population: per Capita: by Region. 25 Feb 2020 The oil and gas revenue contributed approximately 7.9 trillion Russian rubles to the federal budget of Russia in 2019. Russia's exports in 2017 according to Federal Customs Service. Oil and gas revenues contributed to 36% of the country's federal budget in 2016. As of 2017