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5 clusters · 20 sources · 30 days · First seen · Last updated

Russian oil and gas revenue fluctuations

Overview

In September 2026, Russian oil and gas revenues decreased by 22 percent compared to the previous year, totaling approximately 5.43 billion dollars. This decline was driven by increased subsidies for domestic refineries and reports that Ukrainian drone attacks had disabled over half of Russia’s refining capacity. Over the first three quarters of 2026, total oil and gas revenues amounted to roughly 65.64 billion dollars, a 17.2 percent decrease compared to the same period in 2025.

By October 2026, oil and gas tax revenues were projected to increase by 10 percent year-on-year to approximately 11.97 billion dollars. This rise was supported by a spike in energy prices, with Brent crude reaching around 115 dollars per barrel. During the first three weeks of October, the revenue price of crude oil averaged approximately 8,699 rubles (103.4 dollars) per barrel, exceeding federal budget expectations by approximately 60 percent. If current rates remained stable, the October tax calculation price was projected at 8,387 rubles (100.2 dollars) per barrel, the highest since March 2022.

Despite the October surge, where net revenues more than doubled to approximately 11.9 billion dollars, year-to-date revenues from January to October recorded a 14.07 percent decline compared to the previous year, totaling roughly 78.91 billion dollars. To address the budget deficit, which is anticipated to reach 3 percent of GDP in 2026, the Kremlin is considering tax hikes on mining companies and wealthy citizens. Meanwhile, maritime oil exports reached a five-week high of 3.65 million barrels per day in early November following a temporary lull in attacks on refineries.

Entities

Russia · Russian Ministry of Finance · Vladimir Putin · Russian Finance Ministry · Russian Central Bank

Timeline

  1. [BUSINESS] 2 sources
    Russia oil and gas revenues surge amid rising energy prices

    Russia's oil and gas revenues more than doubled in October to 11.9 billion dollars, driven by rising global energy prices and increased maritime exports despite infrastructure attacks.

  2. [BUSINESS] 7 sources
    Russia energy revenues decline despite rising oil prices

    Russia’s energy revenues dropped 17.2% in the first nine months of the year due to a strong ruble and drone attacks on refineries, despite rising global oil prices.

  3. [BUSINESS] 2 sources
    Russian oil prices exceed Kremlin budget expectations by 60%

    Russian oil prices used for tax calculations are roughly 60% higher than budgeted, reaching over 100 dollars per barrel in October, providing a boost to state finances despite projected deficits.

  4. [BUSINESS] 7 sources
    Russia oil and gas tax revenue projected to reach $12 billion in October

    Russia's oil and gas tax revenues are expected to rise 10% year-on-year in October to nearly $12 billion, driven by quarterly profit-based tax payments and higher global energy prices.

  5. [BUSINESS] 2 sources
    Russia oil and gas revenues fall 22 percent in September

    Russian oil and gas revenues dropped 22 percent in September due to rising refinery subsidies and drone attacks impacting refining capacity.

Sources

biznis.rs · businessam.be · comparic.pl · devdiscourse.com · dtnext.in · economica.net · europesays.com · fakti.bg · financije.hr · fr.businessam.be · independent.co.uk · mymotherlode.com · nationalheraldindia.com · noticiabrasil.net.br · novini247.com · oko.press · polsatnews.pl · tekedia.com · winnipegfreepress.com · wnp.pl

This summary has been updated 3 times: see revision history