27.12.2023, 13:08
The authorities estimated the oil and gas revenues of the budget at the end of the year
Source: OREANDA-NEWS
OREANDA-NEWS By the end of 2023, the Russian budget revenues from the sale of oil and gas will amount to about nine trillion rubles. This was announced by Deputy Prime Minister Alexander Novak in an interview with Rossiya 24 TV channel.
The amount of income will be less than in 2022, when 11.586 trillion rubles were received by the treasury. However, as Novak notes, this is due to the high base of last year, when prices on the world market were abnormally high. Compared to 2021, the indicator has hardly changed.
The Deputy Prime Minister added that energy supplies abroad accounted for 57 percent of the country's total export revenue. The fuel and energy complex (FEC) also provided a leading role in shaping Russia's GDP in 2023 (more than 27 percent).
The same as last year, revenues from the sale of fuel prevented, among other things, world oil prices. During the year, the benchmark Brent grade was mainly trading at $80 per barrel, with quotations reaching $91 per barrel at the maximum, but prices lasted only a few days at this level. The Russian government sees the range of price fluctuations next year in the region of 80-85 dollars per barrel.
Meanwhile, the price of Russian Urals oil in the period from November 15 to December 14 collapsed to $ 66.12 per barrel. Thus, the discount from Brent increased to $ 12.65.
The amount of income will be less than in 2022, when 11.586 trillion rubles were received by the treasury. However, as Novak notes, this is due to the high base of last year, when prices on the world market were abnormally high. Compared to 2021, the indicator has hardly changed.
The Deputy Prime Minister added that energy supplies abroad accounted for 57 percent of the country's total export revenue. The fuel and energy complex (FEC) also provided a leading role in shaping Russia's GDP in 2023 (more than 27 percent).
The same as last year, revenues from the sale of fuel prevented, among other things, world oil prices. During the year, the benchmark Brent grade was mainly trading at $80 per barrel, with quotations reaching $91 per barrel at the maximum, but prices lasted only a few days at this level. The Russian government sees the range of price fluctuations next year in the region of 80-85 dollars per barrel.
Meanwhile, the price of Russian Urals oil in the period from November 15 to December 14 collapsed to $ 66.12 per barrel. Thus, the discount from Brent increased to $ 12.65.
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