{"id":297550,"date":"2025-12-03T23:00:10","date_gmt":"2025-12-03T23:00:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/297550\/"},"modified":"2025-12-03T23:00:10","modified_gmt":"2025-12-03T23:00:10","slug":"russias-oil-and-gas-revenues-fall-34-year-on-year-in-november","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/297550\/","title":{"rendered":"Russia\u2019s Oil and Gas Revenues Fall 34% Year-on-Year in November"},"content":{"rendered":"<p>Russia\u2019s oil and gas revenues fell sharply again in November, the Finance Ministry <a href=\"https:\/\/minfin.gov.ru\/ru\/statistics\/fedbud\/oil?id_57=122094-svedeniya_o_formirovanii_i_ispolzovanii_dopolnitelnykh_neftegazovykh_dokhodov_federalnogo_byudzheta_v_2018-2025_godakh\" title=\"said\" rel=\"nofollow noopener\" target=\"_blank\">said<\/a> Wednesday, underscoring mounting pressure on the federal budget from a combination of sanctions, weak crude prices and a strong ruble.<\/p>\n<p>The government collected 530.9 billion rubles ($6.8 billion) in oil and gas taxes last month, a 34% drop from the same month a year earlier.<\/p>\n<p>Revenue from the mineral extraction tax fell 36%, while export duties slumped nearly 40%.<\/p>\n<p>Oil and gas income totaled 8 trillion rubles ($103 billion) in the first 11 months of the year, down 2.3 trillion ($29.63 billion) from the same period in 2024.<\/p>\n<p>The decline has accelerated over the year, from 14% in May to 20% in August and 22% by early December.<\/p>\n<p>The latest data comes as Russia faces what Janis Kluge, a senior associate at the German Institute for International and Security Affairs, <a href=\"https:\/\/x.com\/jakluge\/status\/1995530317935878584\" title=\"said\" rel=\"nofollow\">described<\/a>\u00a0as a \u201ctoxic mixture\u201d of sanctions, lower oil prices and a stronger ruble.<\/p>\n<p>Discounts on Russia\u2019s Urals crude widened to $20 per barrel after the United States blacklisted Rosneft and Lukoil.<\/p>\n<p>The grade\u2019s average price in November fell to $44.87, the lowest since March 2023.<\/p>\n<p>The ruble price of Urals, the key figure for budget revenue, has hovered around 3,250 rubles ($41.90) per barrel in another 2.5-year low.<\/p>\n<p>Urals prices fell further to $41 in early December, according to Reuters data.<\/p>\n<p>That raises the risk of a \u201csignificant shortfall\u201d in oil and gas revenue, economist Yegor Susin <a href=\"https:\/\/t.me\/truecon\/5118\" title=\"warned\" rel=\"nofollow\">warned<\/a>.<\/p>\n<p>Susin <a href=\"https:\/\/t.me\/truecon\/5087\" title=\"estimates\" rel=\"nofollow\">estimates<\/a> the budget could miss out on 300 billion rubles ($3.9 billion) in November-December due to deepening discounts.<\/p>\n<p>The decline in energy income \u201cshould accelerate in January, given current price and discount dynamics,\u201d he wrote.<\/p>\n<p>The Finance Ministry initially expected to collect 10.94 trillion rubles ($140.9 billion) in oil and gas revenue this year but later cut the forecast by 21% to 8.65 trillion ($111.4 billion).<\/p>\n<p>The planned budget deficit was also revised sharply higher from 1.2 trillion rubles ($15.5 billion) to 5.7 trillion ($73.4 billion).<\/p>\n<p>Even that number may prove optimistic, Kluge <a href=\"https:\/\/x.com\/jakluge\/status\/1996204244714897716\" title=\"said\" rel=\"nofollow\">said<\/a>.<\/p>\n<p>By the end of November the government had already spent 88% of its full-year allocation, and the traditional year-end spending surge could push the deficit to about a third above target, or roughly 3.5% of GDP instead of 2.6%.<\/p>\n","protected":false},"excerpt":{"rendered":"Russia\u2019s oil and gas revenues fell sharply again in November, the Finance Ministry said Wednesday, underscoring mounting pressure&hellip;\n","protected":false},"author":2,"featured_media":297551,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,4270,2983,2987,56,54,55],"class_list":{"0":"post-297550","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-finance-ministry","11":"tag-gas","12":"tag-oil","13":"tag-uk","14":"tag-united-kingdom","15":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/297550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=297550"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/297550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/297551"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=297550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=297550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=297550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}