Russian Oil Export Revenue Down 13.6% In Q1 2020 To $25.6Bln - Customs

Russian Oil Export Revenue Down 13.6% in Q1 2020 to $25.6Bln - Customs

Russia's revenues from oil export have fallen 13.6 percent from January-March of 2020 year-on-year to $25.6 billion and the revenue in March fell 10.9 percent month-on-month to $7.3 billion, the Federal Customs Service said on Wednesday

MOSCOW (Pakistan Point News / Sputnik - 20th May, 2020) Russia's revenues from oil export have fallen 13.6 percent from January-March of 2020 year-on-year to $25.6 billion and the revenue in March fell 10.9 percent month-on-month to $7.3 billion, the Federal Customs Service said on Wednesday.

Russia exported 63.08 million tonnes of oil in the first quarter of this year, down 5.8 percent from the year before, according to official figures. The export of petroleum products dropped 3 percent to 36.9 million tonnes over the same period, causing the revenue to slid 7.5 percent to $16.3 billion.

In March, oil export grew 12.7 percent month-on-month to 21.9 million tonnes. The export of petroleum products grew 26.7 percent to 14.3 million tonnes compared to February, driving the revenue up 17.4 percent to $5.9 billion.

Russia's gas exports fell 24.2 percent in Q1 of 2020 year-on-year to 46.6 billion cubic meters, taking the revenues of Gazprom, Russia's exclusive exporter, down 51.6 percent to $6.8 billion in the given period.

In March, Russia exported 14.1 billion cubic meters of gas, down 0.7 percent from February. Gazprom's revenue in March dropped 12.9 percent month-on-month to $1.7 billion.