Russia’s oil exports fall by 43.5%, gas exports drop by 20%

In Jan-Mar 2015, Russia earned $22.726bn from export of oil or 43.5% less than in Jan-Mar 2014, says a report by the Federal Customs Service of Russia.

Some 59.3mn tons were exported during the period against 52.6mn tons a year before.

$21.3mn was earned from exports to non-CIS countries against $36.4bn in Jan-Mar 2014. Exports to the CIS dropped from $2.3bn to $1.399bn. In terms of volume, the exports to non-CIS countries made up 53.6 tons, the exports to the CIS 5.7mn tons.

During the same period the average price of exported gas dropped by 20.3% to $265.1 per 1,000 c m. The gas exports made up 43.3bn c m against 54.3bn c m in Jan-Mar 2014. 31bn c m were supplied to non-CIS countries, 12.3bn c m to the CIS.