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Russia charged an export duty on oil products, in May 2023 Light Oil products was $4.2 per tonne (compared to $12.9 in December 2022), Naphtha duty was $7.9 and gasoline $4.3 per tonne. [19] From 1 January 2024 the export duty fell to zero as Russia changed the taxation system to add oil to the Mineral Extraction Tax regime.
The Russian economy is heavily funded by oil and gas taxes. In 2021 Russia's revenue from all sources was $343 billion with oil and gas providing $127 billion. In 2022 revenue from all sources was $358 billion with oil and gas providing $166 billion or 46% of the budget. [9] Oil revenue is a major sanction target.
U.K. energy giant Shell and Japanese trading firms Mitsui and Mitsubishi hold double-digit stakes in the Sakhalin-2 oil and natural gas project. On July 1, 2022, Putin signed a decree to allow the government to seize the Sakhalin-2 oil and natural gas project but further attempts to formally nationalize the assets of international firms were ...
It had a stockpile good for 55 days, and another 20-day supply was en route. Facing its most serious crisis since 1945 the government ordered a 10% cut in the consumption of industrial oil and electricity. In December it ordered an immediate 20% cut in oil use and electric power to Japan's major industries, and cutbacks in leisure automobile usage.
But domestic oil production hit a record in 2023, with a daily average of 12.9 million barrels of oil produced. That’s more than any country has ever produced. So far 2024 production is up ...
Also available for the first time ever on a Corvette was a special performance equipment package the RPO Z06, for $1,818.45. These Corvettes came to be known as the "Big Tanks" because the package initially had a 36.5-US-gallon (138 L; 30.4 imp gal) gas tank versus the standard 20-gallon for races such as Sebring and Daytona.
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