16 September 2024,   22:59
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Russia’s oil and gas revenue hit 18-month high in October

Russia’s oil and gas revenue soared in October to the highest since April 2022 due to high oil prices and a pause in government subsidies to refiners.

Budget proceeds from taxes on oil and gas rose by almost 28% last month from a year ago, to 1.63 trillion rubles (USD 17.6 billion), the Finance Ministry said.

Levies on crude and petroleum products - which accounted for almost 91% of total hydrocarbon revenues last month - more than doubled.

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