Official: Russian budget income from oil, gas sector surges 28 percent last year

2023-01-17 02:33:32

(MENAFN) Russia's budget incomes from the oil and gas sector surged by 28 percent on a yearly basis last year, a senior official stated on Monday.

That increase constitutes for 2.5 trillion Russian rubles (USD36.5 billion), Alexander Novak asserted at a gathering among Premier Mikhail Mishustin as well as additional deputy premiers.

Novak noted that oil output in Russia surged by 2 percent in 2022 to reach an amount of 535 million tons, whereas oil shipments saw a surge of 7 percent in spite of Western restrictions due to the attack on Ukraine.

"Summing up, I would like to note once again that last year the fuel and energy complex, despite all the difficulties, demonstrated stable operation, resistance to external challenges, the ability to ensure the energy security of our country and the realization of export potential, including for the formation of a significant part of budget of the Russian Federation," Novak also stated.

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