{"id":229765,"date":"2025-12-12T20:26:07","date_gmt":"2025-12-12T20:26:07","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/229765\/"},"modified":"2025-12-12T20:26:07","modified_gmt":"2025-12-12T20:26:07","slug":"exclusive-russias-monthly-oil-and-gas-revenue-poised-to-hit-lowest-since-august-2020","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/229765\/","title":{"rendered":"Exclusive: Russia&#8217;s monthly oil and gas revenue poised to hit lowest since August 2020"},"content":{"rendered":"<ul data-testid=\"Summary\" class=\"summary-module__summary__QjADA\">\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Annual oil and gas revenue to fall short of budget projection<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Returns hit by cheaper crude and stronger rouble<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Oil and gas accounts for a quarter of federal budget proceeds<\/li>\n<\/ul>\n<p>MOSCOW, Dec 12 (Reuters) &#8211; Russian state oil and gas revenue in December is likely to almost halve from a year earlier to 410 billion roubles ($5.17 billion) as a result of lower crude prices and a stronger rouble, Reuters calculations showed on Friday.<\/p>\n<p>Oil and gas revenue is the leading source of cash for the Kremlin, making up a quarter of federal budget proceeds that have been drained by heavy defence and security spending since Russia began its military campaign in Ukraine in February 2022.<\/p>\n<p data-testid=\"promo-box\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__promo-box__hVl8h\"> Sign up  <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/business\/energy\/russias-oil-gas-revenue-seen-halving-december-lowest-since-august-2020-2025-12-12\/undefined?location=article-paragraph&amp;redirectUrl=%2Fbusiness%2Fenergy%2Frussias-oil-gas-revenue-seen-halving-december-lowest-since-august-2020-2025-12-12%2F\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">here.<\/a><\/p>\n<p>For the entire year, the revenue is set to fall by almost a quarter to 8.44 trillion roubles, below the Finance Ministry&#8217;s 8.65 trillion rouble forecast, according to calculations based on data from industry sources and official statistics on production, refining and supplies.<\/p>\n<p>Russia reported its lowest monthly oil and gas revenue of 405 billion roubles in August 2020, when oil prices tumbled during the COVID-19 pandemic.<\/p>\n<p>Sergei Konygin, a senior analyst at Moscow-based investment bank Sinara, said that the budget deficit of 1.6 trillion roubles expected in December will be covered by state bonds, but 2026 will be more difficult.<\/p>\n<p>&#8220;Next year is a big challenge to the budget as it was formed under an optimistic scenario of oil at $59 (per barrel) and the rouble at 92 (per dollar),&#8221; he said.<\/p>\n<p>The Russian oil price used for taxation purposes decreased in November by 16.4% from October to $44.87 a barrel while the rouble strengthened to 80.35 per dollar.<\/p>\n<p>Konygin expects amendments to the budget next spring to make use of the National Wealth Fund to address the deficit under a lower assumed price of oil.<\/p>\n<p>Ukraine and its Western backers have repeatedly said they want to curb Russian oil revenue to force the world&#8217;s second-largest oil exporter to end the war in Ukraine.<\/p>\n<p>The Finance Ministry had initially expected 10.94 trillion roubles in oil and gas revenue this year but made a downward revision in October to account for global oil prices that have been driven lower by concern over a supply glut.<\/p>\n<p>The Finance Ministry will publish its oil and gas revenue estimates for December on January 14.<\/p>\n<p>($1 = 79.3000 roubles)<\/p>\n<p data-testid=\"SignOff\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__extra_small__8Buss body-module__full_width__kCIGb body-module__extra_small_body__Bfz20 sign-off-module__text__LQAMP\">Reporting by Reuters<br \/>\nEditing by Tomasz Janowski and David Goodman<\/p>\n<p data-testid=\"Body\" dir=\"ltr\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__element__5eCce article-body-module__trust-badge__5mS3f\">Our Standards: <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__small__sph8i link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n<p><a href=\"https:\/\/www.reutersagency.com\/en\/licensereuterscontent\/?utm_medium=rcom-article-media&amp;utm_campaign=rcom-rcp-lead\" target=\"_blank\" dir=\"ltr\" class=\"button-module__link__A3sD0 button-module__secondary__70gBu button-module__round__QDFgq button-module__w_auto__Sem-F\" data-testid=\"LicenceContentButton\" rel=\"nofollow noopener\">Purchase Licensing Rights<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Annual oil and gas revenue to fall short of budget projection Returns hit by cheaper crude and stronger&hellip;\n","protected":false},"author":2,"featured_media":229766,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[85421,122889,2786,82703,79,82517,93089,1802,83626,82543,82538,82546,82556,82541,83619,82550,82776,84041,83391,82530,83393,82528,82531,83620,82547,82557,82551,83115,83116,179,85422,18,55396,82578,83599,7520,83600,83601,83371,85420,82520,95606,32356,87582,45748,85214,83117,19,17,112986,83122,97938,109888,122888,93088,82507,83628,45751,83602,122887,99514,82508,83376,90368,83622,99513,90362,83621,93087,109590,4520,82534,83368,83618,83366,82533],"class_list":{"0":"post-229765","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-anlins","9":"tag-ascru","10":"tag-asia","11":"tag-asxpac","12":"tag-business","13":"tag-ceeu","14":"tag-cisc","15":"tag-com","16":"tag-cru","17":"tag-destabn","18":"tag-destabx","19":"tag-destbnx","20":"tag-destd","21":"tag-deste","22":"tag-destele","23":"tag-destfun","24":"tag-destg","25":"tag-destm","26":"tag-desto","27":"tag-destocabsm","28":"tag-destoil","29":"tag-destoukbsm","30":"tag-destousbsm","31":"tag-destousnrg","32":"tag-destpsc","33":"tag-destrbn","34":"tag-destucdptest","35":"tag-eci","36":"tag-eco","37":"tag-economy","38":"tag-eeu","39":"tag-eire","40":"tag-emea","41":"tag-emrg","42":"tag-ener","43":"tag-energy","44":"tag-enff","45":"tag-eng","46":"tag-enr","47":"tag-erep","48":"tag-europ","49":"tag-exclsv","50":"tag-fin","51":"tag-frx","52":"tag-gen","53":"tag-gfin","54":"tag-govact","55":"tag-ie","56":"tag-ireland","57":"tag-lpg1","58":"tag-mce","59":"tag-mmt","60":"tag-mog","61":"tag-nascru","62":"tag-nasia","63":"tag-news1","64":"tag-ngs","65":"tag-nrg","66":"tag-oilg","67":"tag-oili08","68":"tag-petc","69":"tag-pol","70":"tag-prod","71":"tag-refi","72":"tag-repigas","73":"tag-repipetrochemicals","74":"tag-repirefining","75":"tag-repitransport-fuels","76":"tag-ru","77":"tag-rulesrussia","78":"tag-tax","79":"tag-topcmb","80":"tag-topicenergy-oil-gas","81":"tag-topicenergy-power","82":"tag-topicmarkets-commodities-energy","83":"tag-topnws"},"share_on_mastodon":{"url":"","error":"Validation 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