Oil is a vital natural resource effective in many industrial sectors like manufacturing industries and energy generation. The increasing biological importance of the commodity has made this a globally sought-after product and one of the top exports of Russia accounting for more than 30% of the total exports. The trade rates based on the export of oil contribute to the significant revenue generation of the Russian government through different taxes and royalties.

The country strategically located in Eastern Europe and South Asia holds a population of 11.3 million among which the majority engage themselves in the agricultural factor. With a plethora of mineral fuel reserves and conservation sources, the country has generated a total oil trade value of 191 billion US dollars in 2023 holding a majority of trade share accounting for the total annual revenue of the nation. The influential reliability of Russian trade on its oil export has made Russian crude one of the most desirable commodities across the globe according to Russia Customs Data.

Summary of Russia Oil Export

The Russia Trade Data enlists the below-mentioned as the key factors of the Russian Oil export,

• Top Oil Export Destination – China
• Top Manufacturing Company – Rosneft
• Global rank of oil export – 3rd rank
• The growth rate in oil export – 7% CAGR
• GDP of Russia in 2023 – 1.9 trillion US dollars

Top 10 Oil Manufacturing Companies of Russia

Being a globally largest exporter of oil from all the other top traders across the world the country has been establishing its oil manufacturing industries in different regions across the land area. The impassive growth of oil exports to different top traders is all because of the efficacy of oil production companies in Russia. As per the Russia Oil Export Data, the top 10 oil manufacturing reserves of the nation in 2023 are discussed below,

• Rosneft – Valuation of oil exports of Rosneft in Russia 2023 – 100 billion US dollars.

• Lukoil – Valuation of oil exports of Lukoil in Russia 2023 – 70 billion US dollars.

• Gazprom Neft – Valuation of oil exports of Gazprom Neft in Russia 2023 – 60 billion US dollars.

• Surgutneftegas – Valuation of oil exports of Surgutneftegas in Russia 2023 – 50 billion US dollars.

• Tatneft – Valuation of oil exports of Tatneft in Russia 2023 – 40 billion US dollars.

• Novatek – Valuation of oil exports of Novatek in Russia 2023 – 30 billion US dollars.

• Gazprom – Valuation of oil exports of Gazprom in Russia 2023 – 20 billion US dollars.

• Russneft – Valuation of oil exports of Russneft in Russia 2023 – 10 billion US dollars.

• Bashneft – Valuation of oil exports of Bashneft in Russia 2023 – 8 billion US dollars.

• Slavneft – Valuation of oil exports of Slavneft in Russia 2023 – 7 billion US dollars.

Top 10 Oil Export Destinations of Russia 2023

The country has been expanding its oil export rates across different nations in the world for suitable revenue generation accounting for a better trade rank among all the other trade holders. As per the Russia Customs Shipment Data, the top 10 oil export destinations of the nation in 2023 are discussed below,

• China – Valuation of oil exports from Russia in 2023 to China – 55 billion US dollars.

• Germany – Valuation of oil exports from Russia in 2023 to Germany – 38 billion US dollars.

• Netherlands– Valuation of oil exports from Russia in 2023 to Netherlands – 30 billion US dollars.

• Belarus – Valuation of oil exports from Russia in 2023 to Belarus – 25 billion US dollars.

• Poland – Valuation of oil exports from Russia in 2023 to Poland – 20 billion US dollars.

• Italy – Valuation of oil exports from Russia in 2023 to Italy – 18 billion US dollars.

• Turkey – Valuation of oil exports from Russia in 2023 to Turkey – 16 billion US dollars.

• United Kingdom – Valuation of oil exports from Russia in 2023 to the United Kingdom – 14 billion US dollars.

• South Korea – Valuation of oil exports from Russia in 2023 to South Korea – 12 billion US dollars.

• Japan – Valuation of oil exports from Russia in 2023 to Japan – 10 billion US dollars.

FAQ’s

Que. Who is the top oil exporting company in Russia in 2023?
Ans. The top oil exporting company in Russia in 2023 is Rosneft.

Que. What is the oil export trade value of Russia in 2023?
Ans. The total oil export trade value of Russia in 2023 is 191 billion US dollars.

Que. Where can you get a detailed trade analysis of Russia oil trade in 2023?
Ans. At Import Globals, you can get a detailed trade analysis of Russia oil trade in 2023.

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