Russia’s Oil Profits Tumble as Prices Fall and Sanctions Hit ...Middle East

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Russia’s Oil Profits Tumble as Prices Fall and Sanctions Hit
source : OILPRICE ( Middle East ) () 69
The combined net profits of Russia’s oil and gas companies nearly halved in the first quarter from a year earlier, while petroleum revenues for the budget have been falling with the decline in oil prices in recent months. The net profits of the Russian oil and gas firms slumped to $9.9 billion (789.5 billion Russian rubles) in the first quarter of 2025, down from $18 billion (1.445 trillion rubles) for the same period of 2024, according to data from Russia’s statistics agency Rosstat cited by The Moscow Times. The drop in oil prices,…

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