Russia oil revenues shrinking by 1.6 times

Russia`s revenues from crude oil exports in January-March 2016 shrank by 1.6 times to $14.093 billion compared to the same period last year, according to the Russian Federal Customs Service.
Russia`s oil exports in the reporting period amounted to 61.951 million tonnes (an increase of 4.3% compared to the same period in 2015).
Oil exports to non-CIS countries increased by 4.5% to 56.085 million tonnes. In monetary terms, exports amounted to $13.076 billion in this period (lower by 1.6 times yoy).
Oil exports to CIS countries grew by 2.8% to 5.866 million tonnes, and declined by 24.2% in monetary terms, making up $1.016 billion, according to Prime.
Exports of oil products in January-March 2016 decreased by 15.9% to 38.526 million tonnes compared to the same period last year. Exports in monetary terms amounted to $9.533 billion. Of this, Russia`s exports of petroleum products to non-CIS countries amounted to 36.515 million tonnes ($8.806 billion in monetary terms): gasoline exports amounted to 668,300 tonnes ($ 230.7 million), diesel fuel exports reached 11.256 million tonnes ($3.438 billion).
Russia`s revenues from gas exports in January-March 2016 amounted to $8.515 billion, which was lower by 25.8% than in the same period of 2015.
In January-March 2016, Russia exported 51.1 billion cubic meters (bcm) of gas (an increase of 18% yoy), including 40.4 bcm of gas to non-CIS countries (an increase of 30.3%) and 10.7 bcm of gas to CIS countries (a decrease of 13%).

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