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Market
Percentage of Russia's seaborne oil exports by Sovcomflot tankers in Q1 2025
2
Resolution / Starting Odds
Less than 10% • 33%
10-15% • 34%
More than 15% • 33%
Reports from the Russian Energy Ministry and shipping data from industry analysts
Story
Russia's Oil and Gas Revenue Rises 41% to 746.6 Billion Rubles in June 2024
Jul 3, 2024, 09:36 AM
Russia's oil and gas revenue saw a significant increase in June 2024, with budget proceeds rising to 746.6 billion rubles from 793.7 billion rubles in May, according to the Finance Ministry. Oil-related taxes jumped to 590.6 billion rubles ($6.7 billion) in June, compared to 402.8 billion rubles a year ago. This represents a 41% year-on-year increase in oil and gas budget revenue, reaching $8.5 billion. The rise in revenue is attributed to higher Urals prices. Additionally, Sovcomflot, a Russian shipping company, has 100 unsanctioned oil tankers that account for 13% of Russia's seaborne oil exports. Fifteen of these ships make up 60% of the activity in June 2024. There are calls for these ships to be sanctioned to curb Russia's energy windfall, as highlighted in a recent BrookingsInst blog.
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