Kremlin Oil Revenue Down 29 Percent in October Amid Lower Prices

November 22, 2024/in /by Rudolf Huber

Prices are not only lower, they have been very low to begin with. Considering the current situation with war in the Middle East, war in Eastern Europe, and tensions simmering to the boiling point in China’s coastal waters, oil prices are even very low. If we factor in inflation, we are in almost unbelievable territory. But this is not Russia’s worst problem. Oil needs giant long-term investments to produce their effect over decades of operation. But the current campaign of Ukrainian bombs and drones on Russian oil facilities destroys stuff that cannot be fixed fast. This might be the death spell for Russian oil.

Oil-related taxes, a key source of financing for Russia's war against Ukraine, shrank to $10.7 billion last month.

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I met Rudolf at the beginning of 2011, since we were both involved and working together within several European / Scandinavian projects for the development of technology, standardisation and legal aspect in the use of LNG as marine fuel and along its supply chain. Rudolf has vast expertise in, and perspective on, different aspects of LNG technologies, suppliers, infrastructures and supply chain options. He is able to provide a deep understanding and insight into these areas and is a conscientious and diligent source. Moreover, he is a tremendous visionary on the geopolitical, trading and technology aspects of energy, with a special remark for LNG traditional and small / mid magnitude chain. Rudolf has very proactive personal and working approach and is an excellent team worker and leader. Not least, he has a unique persuasive way of writing, negotiating and delivering speeches. I would certainly recommend him as an excellent expert and believe he would be a powerful asset for any company actively working in Oil and Gas. Thank you Rudolf! Marco

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