Russia raises forecast for 2024 oil, gas export revenues by $17.4 bln, document shows
By Darya Korsunskaya
Sept 6 (Reuters) -Russia's economy ministry has revised up its 2024 forecasts for export sales of oil and gas, key sources of budget revenues, by $17.4 billion from the previous estimate to $239.7 billion thanks to a more positive price outlook, a document seen by Reuters showed.
The improved expectations for Russia's oil and gas business underscore how the West has struggled to inflict lasting damage on Russia's economy through unprecedented sanctions, including oil price caps and import restrictions, over Moscow's war with Ukraine.
The document showed that Russian crude oil exports are seen rising to 239.9 million metric tons (4.8 million barrels per day) this year from 238.3 million tons in 2023.
The ministry also expects the average price of Russian oil sold for export to rise this year to $70 per barrel, a $5 upward revision from an estimate made in April. This is also up from $64.5 in 2023 and above the price cap of $60 per barrel imposed by the West.
Natural gas prices were also revised up, for sales in both Europe and China.
Russia has managed to divert much of its business away from Europe since its invasion of Ukraine, ramping up trade with China and India.
The revisions ultimately mean higher revenues. Earning nearly $240 billion from oil and gas exports this year would represent a $13 billion increase on 2023. In 2025, the forecast was also raised, to $236.5 billion from $226.2 billion in the previous forecast.
OIL OUTPUT DOWN
Russian President Vladimir Putin on Thursday said the global economy would fail without Russia's oil and gas.
Speaking at an economic forum in Russia's Far East, he said that Moscow planned to keep pumping gas via Ukraine to the European Union but that Russia could not force Kyiv to keep the transit agreement which expires at the end of this year.
Russia expects gas output to increase each year until 2030, the limit of current forecasts, but the ministry revised down expectations for both oil production and the overall volume of energy exports.
Russia is participating in efforts, led by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, to curb oil output to prop up the volatile market.
In the updated estimates, Russian oil production is seen declining to 521.3 million tons this year from 529.6 million tons in 2023 and down by 1.7 million tons from the previous estimate.
The prospects for oil output in 2025 were reduced, according to the economy ministry, with production seen declining further to 518.6 million tons, a reduction of 11.4 million tons on the previous forecast.
Reporting by Darya Korsunskaya; Writing by Vladimir Soldatkin; Editing by Alexander Marrow and Hugh Lawson
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
