Russian Oil and Gas Revenues Set for 22% Plunge in April

Russian Oil and Gas Revenues Set for 22% Plunge in April

Russia is expected to see its oil and gas revenues for April slump by 22% from a year ago, amid lower oil prices and a stronger local currency, according to Reuters calculations. Russia’s revenues from hydrocarbons are set to be about $11.6 billion (960 billion Russian rubles) in April, also due to lower profit-based taxes compared to the previous month, per the estimates by Reuters published on Thursday. Official data from Russia’s finance mini…

Lukoil Reduces Oil Production by 2.6 Percent in 2024

According to its annual report, Russian oil company Lukoil reduced its oil and condensate production in 2024 by 2.6 percent, excluding the West Qurna-2 project, to 80.4 million metric tons. Production within the Russian Federation also declined by 2.6 percent, totaling 76.5 million metric tons, which accounted for approximately 15 percent of the country’s total oil production. The company’s production was geographically distributed as follows: 4…

Russia reduces oil and gas export revenue forecast by 15%

Russia has revised its oil and gas export revenue projections for the years 2025-2027, with expected earnings for 2025 now set at $200.3bn.