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Russia's oil output down 0.8% to 530.6 mln tons in 2023, exports down 3.3% to 234 mln tons

Deputy Prime Minister Alexander Novak noted that Russia was able to ensure diversification of oil supplies to the markets of friendly countries last year

MOSCOW, February 6. /TASS/. Oil production in Russia in 2023 decreased by 0.8% to 530.6 mln tons, according to the presentation of Russia’s Deputy Prime Minister Alexander Novak.

Russia’s oil exports fell by 3.3% to 234.3 mln tons, the presentation said. In 2022, the figure reached 242.2 mln tons.

The deputy prime minister noted that Russia was able to ensure diversification of oil supplies to the markets of friendly countries last year.

The share of oil and gas revenues in the federal budget exceeded 30% at the end of the year, with the share of the fuel and energy complex in GDP surpassing 20%, and investments in the fuel and energy complex reaching 7.1 trillion rubles ($77.98 bln).

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Alexander Novak

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