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Russia’s oil and gas revenues up by 7.5% in December 2022 to $13.5 bln — Finance Ministry

At the end of 2022, the federal budget received 11.586 trillion rubles ($168.5 bln) from the oil and gas industry against 9.056 trillion rubles ($131.6 bln) a year earlier

MOSCOW, January 11. /TASS/. Revenues from the oil and gas industry to Russia’s budget increased by 7.5% month-on-month in December 2022 and amounted to 931.5 billion rubles ($13.5 bln), according to the statistics of the Finance Ministry. In comparison with December 2021, this figure increased by 6%.

At the end of 2022, the federal budget received 11.586 trillion rubles ($168.5 bln) from the oil and gas industry against 9.056 trillion rubles ($131.6 bln) a year earlier, which is an increase of 28%.

According to the Finance Ministry, in December, the export duty and mineral extraction tax (MET) on oil and gas condensate resulted in budget revenues of 541.2 billion rubles ($7.8 bln), which is 9.7% lower than in November. The volume of the same taxes on gas in December amounted to 520.4 billion rubles ($7.5 bln), which is 14.5% more than a month earlier.