Russia's gas revenues down 29 per cent

Russian gas revenues in the first four months of the year plunged 29 per cent year on year to $10.78 billion, the Federal Customs Service said on Wednesday.

However, the volume of gas exports from Russia in the four-month period stood at 66.2 billion cubic metres, an increase of 11.4 per cent compared with the same period last year, Xinhua news agency cited it as saying.

Russia exported 185.5 billion cubic metres of gas in 2015.

The country is heavily dependent on oil and gas exports for fiscal revenues but it is making efforts to diversify its economy.

--IANS

py/vt