Russian oil exports fall but revenues soar
10/07/2011 149
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MOSCOW, July 7 (Xinhua) -- Russian oil export revenues in January-May 2011 grew by nearly 31 percent year-on-year to 67.858 billion U.S. dollars while oil exports declined, Russia's Federal Customs Service said Thursday.
It said revenues from oil exports to "far abroad" countries rose by 34 percent, while revenues from exports to the "near abroad", or former Soviet republics, fell by 40 percent.
In volume terms, oil exports in the first five months of 2011 dropped by 11.3 percent, to 90.24 million tons, compared to 101.69 million tons in the same period of 2010. Fuel exports made up 72.9 percent of Russia's total exports to the far abroad in the first five months.
In 2010, oil exports from Russia dropped by 0.6 percent compared to 2009, while oil export revenues rose by 38 percent compared to 2009 and oil and gas condensates production rose 2.2. percent for the same period.
July 7, 2011
Source: Xinhua News
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