Russia's October oil and gas budget revenue seen falling 21%

Month-on-month, the October revenue is set to jump by 63% due to payment of profit-based taxes by companies, according to Reuters calculations based on oil and gas production data, refining, and supplies on domestic and international markets Revenue for the first 10 months of the year is set to fall by 20.5% to 7.56 trillion roubles, the calculations show.

Russia's state oil and gas revenue in October is set to fall by around 21% to 950 billion roubles ($11.7 billion) from a year earlier on lower prices and a stronger rouble, Reuters calculations showed, hitting Moscow's biggest source of revenue. The projected decline will add more challenges for the Russian government, which is facing a rising budget deficit and has had to hike taxes to fund increasing military and security spending.

Oil and gas revenue accounts for up to a quarter of Russia's budget and is the most important source of cash for Moscow's military campaign in Ukraine, now in its fourth year. Month-on-month, the October revenue is set to jump by 63% due to payment of profit-based taxes by companies, according to Reuters calculations based on oil and gas production data, refining, and supplies on domestic and international markets

Revenue for the first 10 months of the year is set to fall by 20.5% to 7.56 trillion roubles, the calculations show. The finance ministry is scheduled to publish its October estimates of oil and gas revenue on November 5.

The ministry initially forecast 2025 oil and gas revenue at 10.94 trillion - or 5% of gross domestic product - but has lowered that to 8.32 trillion roubles. ($1 = 81.4705 roubles)

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