Oil Exports Down by 6,2% in Jan-Mar 2008
OREANDA-NEWS. May 12, 2008. According to Federal Customs Service, the country's oil exports decreased by 6,2% y/y to 55,302mn tons in Jan-Mar 2008.
However, in monetary terms, crude oil exports soared by 61,1% y/y for the reporting period, with revenues from oil exported to the foreign countries reaching USD 35,813bn.
In Jan-Mar, 51,511mn tons of crude oil worth USD 33,814bn were exported to non-CIS countries (vs. 54,628mn tons worth USD 20,913bn in Jan – Mar 2007).
The country’s exports of oil products increased by 9,2% y/y in Jan-Mar in physical volumes (to 27,41mn tons) and 74,5% y/y in value terms (to USD 17,114bn).
Out of that 25,46mn tons of oil products worth USD 15,858bn were exported to non-CIS countries (vs. 23,547mn tons worth USD 9,173bn in Jan – Mar 2007).
In 2007, Russia 's oil exports increased by 4,7% y/y to 238,346mn tons and went up by 18% y/y in value terms to USD 114,12bn.