The budget may receive ₽518 billion in additional oil and gas revenues in October

The federal budget could receive 513.48 billion rubles. additional oil and gas revenues in October, reported at the Ministry of Finance.

“The expected volume of additional oil and gas revenues of the federal budget is projected in October 2023 in the amount of 513.48 billion rubles,” the report says.

In September, the budget received a shortfall of 114.76 billion rubles. from the expected monthly volume of oil and gas revenues.

“Thus, the total volume of funds allocated for the purchase of foreign currency and gold is 398.72 billion rubles. Operations will be carried out from October 6, 2023 to November 7, 2023, respectively, the daily volume of purchases of foreign currency and gold will be the equivalent of 18.12 billion rubles,” the statement said.

In August, the largest Russian oil companies – “Rosneft“, “Lukoil“, “Tatneft“, “Gazprom Neft” And “Transneft» – published financial results for the first half of 2023. Analysts surveyed by Vedomosti notedthat most of the published reports exceeded market expectations.

As Kirill Bakhtin, a senior analyst at the Sinara investment bank, said, “the biggest surprise” was the results of Transneft – its reporting exceeded consensus forecasts. Revenue amounted to 637 billion rubles. (+3.5 year-on-year), while net profit was 26% higher than expected: the company earned RUB 187.6 billion. (+53% y/y).