OREANDA-NEWS  The volume of planned additional oil and gas revenues of the federal budget in December 2022 will amount to 85.9 billion rubles — compared with the actual values of 108.9 billion rubles in November and 435.1 billion in October, the Ministry of Finance of the Russian Federation reported on December 5. This is the minimum value since February 2021, follows from the data of the department.

In accordance with the rules of the Ministry of Finance, the assessment of additional oil and gas revenues for December was formed as the sum of the expected volume of additional oil and gas revenues associated with the excess of the actual price of Russian Urals oil ($71 per barrel) above the baseline level ($44.2 in 2022), — 176.1 billion rubles — and adjustments for additional oil and gas revenues for the previous month (the difference between the actual and expected volume in November) is minus 90.2 billion rubles. According to the formula of additional oil and gas revenues, the adjustment component takes into account the deviation of the actual volumes of oil and gas production, exports of oil, gas and petroleum products and the volume of processing of crude oil in the past month from the corresponding volumes predicted by the Ministry of Economic Development for November 2022 in the fall of 2021, that is, before the introduction of tough Western sanctions.