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Russian Oil and Gas Revenues Set for 22% Plunge in April [Yahoo! Finance]
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Russia's revenues from hydrocarbons are set to be about $11.6 billion (960 billion Russian rubles) in April, also due to lower profit-based taxes compared to the previous month, per the estimates by Reuters published on Thursday. Official data from Russia's finance ministry is expected on May 7. In March, Russian revenues from oil and gas plunged by 17% from a year earlier, according to data from Russia's finance ministry. Oil and gas revenues for the Kremlin fell to $13.2 billion (1.1 trillion Russian rubles) last month, while revenues for the first quarter dipped by nearly 10% on the year to $31.8 billion (2.64 trillion rubles), the official Russian data showed in early April. Proceeds from oil and gas sales are the most important cash stream for Russia's federal budget. Earlier this week, Russia's Economy Ministry lowered its forecast for oil prices this year in an update for its baseline scenario, reflecting the latest trends on global oil markets. Per the new scenari
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