| Submit your comments on this article |
| Economy |
| Russian oil and gas export situation |
| 2023-01-08 |
| [Twitter] Even worse for Russia is the oil market. Ural Crude oil is at 50 USD/Barrel. Remember, India and China get huge discounts, so the price is even lower than that. The natural gas prices continue to drop and now they have a reached a level lower than any time in 2022. Last time when the price was below 68 EUR/MWh was in October 2021. Latest quote is $48.99 for Urals Crude. $30 below Euro/Mideast and $25 below US crude quotes. 2021 Russian federal budget breakeven was estimated at $69/bbl. At current oil and gas prices, reduced volumes (esp nat gas) from 2021 and greatly increased military spending, Russia is running a ferocious budget deficit w/o prospects for borrowing when their banked surplus, much of it frozen in the west, runs low. |
| Posted by:Waldemar the Limber5043 |
| #1 Rantburg not accepting link: The Kremlin regime intends to increase tax pressure on domestic producers Bloomberg says. In particular, the publication stresses that the Russian authorities are preparing to seize funds from major producers of raw materials and state companies. It is about those companies which are not involved in defense and do not produce anything useful for the war. Thus, it is proposed to establish a permanent tax in favor of the war at a level not lower than 50% of the net profit of all state companies. |
| Posted by: Waldemar the Limber5043 2023-01-08 17:03 |