I wrote – Marwa Al Ghoul
Saturday, 08 April 2023 02:00 PM
registered Oil prices Weekly gains for the third week in a row, as the global benchmark crude recorded $85.12 a barrel, and the US West Texas Intermediate crude recorded $80.70 a barrel.
And the Russian Ministry of Finance announced a decrease in revenues oil And gas in the Russian budget in January-March of this year increased by 45% due to the drop in oil prices and the decline in gas exports.
A report by the Russian Ministry of Finance said: “The oil and gas revenues in the budget amounted to 1.635 trillion rubles (about 20.6 billion dollars), down 45 percent compared to the same period last year.”
The report added: “The reason for this decrease is primarily due to the decline in the prices of Russian ‘Ural’ crude oil and natural gas exports.”
The report indicated that the funds of the National Welfare Fund were used to cover uncollected oil and gas revenues to ensure the stability of the budget system in the face of fluctuations in oil and gas revenues. Urals will contribute to the gradual recovery of tax revenues from the oil sector in the second half of this year.
In its report, the Russian Finance indicated that non-oil and gas revenues in the first quarter of this year amounted to 4,042 trillion rubles (approximately $50.8 billion), a decrease of 4% compared to the same period in 2022.
