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Russia expects decline of oil export revenue in 2016

July 07, 2014, 14:30 UTC+3 MOSCOW
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MOSCOW, July 07. /ITAR-TASS/. Russian finance ministry predicts a 156.4 billion roubles ($4.5 billion) decline in 2016 oil export revenue from the earlier figure stipulated in the federal budget law for 2014 and the planned period 2015 and 2016, says the Ministry’s draft federal budget for 2015-2017.

The decrease is due to the expected fall in oil production to 193.4 million tonnes from 206.4 million tonnes.

In 2015, the budget will receive 78.9 billion roubles less than expected earlier, as export will contract to 195.4 million tonnes from 202.6 million tonnes.

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