1/16, 9:19 AM (Source: TeleTrader)
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Novak: Russian energy revenues up 28% in 2022

Russia's Deputy Prime Minister Alexander Novak said on Monday that the country's revenues from oil and natural gas jumped 28% in 2022, with oil exports up 7% and oil production increasing by 2%.

In addition, production and exports of liquefied natural gas rose by 8%, but exports of pipeline gas declined "as a result of sanctions restrictions and sabotage on the Nord Stream 1 and Nord Stream 2 gas pipelines," Novak specified at a government meeting. Coal production increased by 0.3% but matched an all-time high from 2020, according to the former energy minister.

In 2022, the energy sector "demonstrated stable operation" and "resistance to external challenges" while ensuring Russia's energy security and significantly contributing to the country's budget, Novak concluded.

Baha Breaking News (BBN) / MS