Russian crude oil export fell by 25% yoy in value terms

The Russian crude oil export fell by 25% yoy in value terms during the period January-September 2016, amounting to 52.21 billion USD. The physical volume of exports for the reported period was 189.825 million tons, which is 5.5% yoy, according to the data of Federal Customs Service (FTS). Russia continue to be the world’s largest exporter of oil, as the oil and gas deliveries account about 70% from the total country’s exports.

The incomes of the export of petroleum products for the first nine months of the year decreased by 38.5% yoy to 33.21 billion USD, against the 53.96 billion USD and year ago. For the period were exports 9.3% yoy less petroleum products, amounting totally to 118.70 million tons.

Gazprom revenue from exports of natural gas for the period from January to September 2016 were reduced by 31.1% yoy to 21.6 billion USD. In voilume terms, the exports grew by 6.1% yoy to 139.5 billion cbm, of which about 23.3 billion cbm were delivered to the CIS countries.

The average price of exported gas for the first nine months of the year was 154.7 USD per 1,000 cbm, decreasing by 35% compared to the same period last year.

As whole, the Russian exports increased to 25,04 billion USD in September from 23.30 billion USD in August of 2016. The exports of the country averaged to 21.08 billion USD from 1994 until 2016, reaching an all time high of 50.25 billion USD in December of 2011 and a record low of 4.10 billion USD in January of 1994.

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