{"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":"","_share_on_mastodon":"0"},"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":["post-229765","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-anlins","tag-ascru","tag-asia","tag-asxpac","tag-business","tag-ceeu","tag-cisc","tag-com","tag-cru","tag-destabn","tag-destabx","tag-destbnx","tag-destd","tag-deste","tag-destele","tag-destfun","tag-destg","tag-destm","tag-desto","tag-destocabsm","tag-destoil","tag-destoukbsm","tag-destousbsm","tag-destousnrg","tag-destpsc","tag-destrbn","tag-destucdptest","tag-eci","tag-eco","tag-economy","tag-eeu","tag-eire","tag-emea","tag-emrg","tag-ener","tag-energy","tag-enff","tag-eng","tag-enr","tag-erep","tag-europ","tag-exclsv","tag-fin","tag-frx","tag-gen","tag-gfin","tag-govact","tag-ie","tag-ireland","tag-lpg1","tag-mce","tag-mmt","tag-mog","tag-nascru","tag-nasia","tag-news1","tag-ngs","tag-nrg","tag-oilg","tag-oili08","tag-petc","tag-pol","tag-prod","tag-refi","tag-repigas","tag-repipetrochemicals","tag-repirefining","tag-repitransport-fuels","tag-ru","tag-rulesrussia","tag-tax","tag-topcmb","tag-topicenergy-oil-gas","tag-topicenergy-power","tag-topicmarkets-commodities-energy","tag-topnws"],"share_on_mastodon":{"url":"","error":"Validation 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