INSUBCONTINENT EXCLUSIVE:
Ministry said last week.The rise was driven by higher extraction tax receipts despite a slight decline from December levels.The increase
President Donald Trump taking office.Revenue from the mineral extraction tax (MET), a key component of oil and gas revenues, grew by 19.4%
compared to January 2024, reaching 1.05 trillion rubles ($10.9 billion)
natural gas, reflecting a 26.5% rise
Gas condensate contributed 64.9 billion rubles ($677 million), growing 32.4% from the same period last year.Export duties amounted to 73.2
billion rubles ($763 million), growing by 6.9% compared with January 2024 but declining 12.1% from December
Gas export duties reached 72.6 billion rubles ($757 million), marking a 20.6% annual increase but a 10.3% decline from the previous
month.The Russian government also made 156.4 billion rubles ($1.6 billion) in compensatory payments to oil companies in January under the
fuel damper mechanism, a scheme designed to stabilize domestic fuel prices
planning, totaled 758.3 billion rubles ($7.9 billion) in January, compared with 731.2 billion rubles ($7.6 billion) in December
signed a law setting the base oil price for budget calculations at $60 per barrel, with a 2% annual increase from 2027
total oil and gas revenues amounted to 11.13 trillion rubles ($116 billion), representing a 26.2% increase from the previous year
Base revenues accounted for 9.83 trillion rubles ($103 billion), while additional revenues contributed 1.3 trillion rubles ($13.5 billion)
in 2027, reaching 10.94 trillion rubles ($114 billion) in 2025, 10.56 trillion rubles ($110 billion) in 2026 and 9.77 trillion rubles ($102
billion) in 2027.The Finance Ministry also provided updated foreign exchange intervention figures, estimating that additional oil and gas
revenues in February would amount to 101.2 billion rubles ($1 billion)
The ministry said these operations would take place between Feb
7 and March 6, with daily purchases equivalent to 3.3 billion rubles ($34 million).This article first appeared in bne IntelliNews.
