CREA’s website unfortunately doesnt offer a scale for the graph, but you can scroll over with your mouse arrow to see the values for a specific date
**notice that this are REVENUES ,not PROFITS**
* back when Urals oil price was near 100$ per barrel,and production costs were 30$, Russian companies were getting a profit of 70$ per barrel
* with the Urals crude price being now 54$ per barrel, profits have fallen steeper,to only 24-25$ per barrel
* same goes for natural gas: revenues are falling due to falling prices,but production and maintenance costs are not falling as much
* Russia has tried to compensate for pipeline gas exports loss by increasing LNG exports,but LNG has higher costs of production and requires foreign expertise and technology.
Bloody wonderful! And it might have the added bonus of shutting down many of those gas fields since I understand it can be hard to get some of them going again.
its astonishing how much the fortunes of Russia have reversed since Spring
**back then nearly everything was going good for Russia**
* sanctions barely had any impact
* EU was terrified by the prospect of Russia cutting gas flows and being left with empty storages for winter
* the value of ruble started to massively increase after the March dropoff, and by May the ruble became the world’s top performing currency
* the value of the euro was crashing and fell to a record low against the dollar
* Russian fossil fuel revenues were skyrocketing due to record oil and gas prices; at some point Russian fossil fuel revenues were nearl**y 1.1 BILLION euros per day**
* after setback in northern Ukraine,Russia was gaining the upper hand in the Donbass due to its artillery 10 to 1 advantages,and **Ukraine was losing up to 300 soldiers per day**
Russia could have struck a peace deal with Ukraine and get at least Donetsk and Luhansk,while withdrawing from other ocuppied territories
But Putin was too greedy and too confident
since then all those advantages have vanished
* the value of the ruble is falling again
* euro is now 1.07 against the dollar and increasing
* fossil fuel export REVENUES are down over 70% from their peak,to as low as 306 million EUR per day recently
* fossil fuel PROFITS are down even more,as production costs have not decreased much with decreasing quantities
* HIMARS and other weapons systems have broken Russia’s artillery advantage
* Ukraine has succesfully conducted 2 counteroffensives
* Russia may be losing up to 600 soldiers per day in Bakhmut(per a statement of German general Freuding)
* US ,UK and EU inflation has peaked and may soon start to fall
* EU gas storages are more than enough for this winter,and the perspectives for next winter are improving
* oil and natural gas prices are dropping across Europe
* gasoline price is at pre-war level,despite the ban on Russian crude
* natural gas prices are at a 6 month low,despite Russian deliveries falling 75%
Russia has used almost all its weapons in the energy war against EU,and they have not have the impact intended
meanwhile ,EU and US have already secured their support for Ukraine in 2023, and no political movement to stop sanctions is strong enough
Some remarks regarding the value of rubel: AFAIK it is essentially impossible to trade in rubel outside of Russia and vice versa with other currencies in russia. Hence Putin can keep the value of rubel artificially high (this is why the value of rubel rose so sharply after the first drop in March). If Putin would reopen Russian Market to other currencies, it is highly likely that rubel would drop to oblivion again (like in March).
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source:[https://www.russiafossiltracker.com/en](https://www.russiafossiltracker.com/en)
CREA’s website unfortunately doesnt offer a scale for the graph, but you can scroll over with your mouse arrow to see the values for a specific date
**notice that this are REVENUES ,not PROFITS**
* back when Urals oil price was near 100$ per barrel,and production costs were 30$, Russian companies were getting a profit of 70$ per barrel
* with the Urals crude price being now 54$ per barrel, profits have fallen steeper,to only 24-25$ per barrel
* same goes for natural gas: revenues are falling due to falling prices,but production and maintenance costs are not falling as much
* Russia has tried to compensate for pipeline gas exports loss by increasing LNG exports,but LNG has higher costs of production and requires foreign expertise and technology.
Bloody wonderful! And it might have the added bonus of shutting down many of those gas fields since I understand it can be hard to get some of them going again.
its astonishing how much the fortunes of Russia have reversed since Spring
**back then nearly everything was going good for Russia**
* sanctions barely had any impact
* EU was terrified by the prospect of Russia cutting gas flows and being left with empty storages for winter
* the value of ruble started to massively increase after the March dropoff, and by May the ruble became the world’s top performing currency
* the value of the euro was crashing and fell to a record low against the dollar
* Russian fossil fuel revenues were skyrocketing due to record oil and gas prices; at some point Russian fossil fuel revenues were nearl**y 1.1 BILLION euros per day**
* after setback in northern Ukraine,Russia was gaining the upper hand in the Donbass due to its artillery 10 to 1 advantages,and **Ukraine was losing up to 300 soldiers per day**
Russia could have struck a peace deal with Ukraine and get at least Donetsk and Luhansk,while withdrawing from other ocuppied territories
But Putin was too greedy and too confident
since then all those advantages have vanished
* the value of the ruble is falling again
* euro is now 1.07 against the dollar and increasing
* fossil fuel export REVENUES are down over 70% from their peak,to as low as 306 million EUR per day recently
* fossil fuel PROFITS are down even more,as production costs have not decreased much with decreasing quantities
* HIMARS and other weapons systems have broken Russia’s artillery advantage
* Ukraine has succesfully conducted 2 counteroffensives
* Russia may be losing up to 600 soldiers per day in Bakhmut(per a statement of German general Freuding)
* US ,UK and EU inflation has peaked and may soon start to fall
* EU gas storages are more than enough for this winter,and the perspectives for next winter are improving
* oil and natural gas prices are dropping across Europe
* gasoline price is at pre-war level,despite the ban on Russian crude
* natural gas prices are at a 6 month low,despite Russian deliveries falling 75%
Russia has used almost all its weapons in the energy war against EU,and they have not have the impact intended
meanwhile ,EU and US have already secured their support for Ukraine in 2023, and no political movement to stop sanctions is strong enough
Some remarks regarding the value of rubel: AFAIK it is essentially impossible to trade in rubel outside of Russia and vice versa with other currencies in russia. Hence Putin can keep the value of rubel artificially high (this is why the value of rubel rose so sharply after the first drop in March). If Putin would reopen Russian Market to other currencies, it is highly likely that rubel would drop to oblivion again (like in March).