Oil revenues up 32.7% in Jan.-June 2004

$25.248bn in oil export revenues has been transferred to the transit foreign currency accounts of Russian companies in the first half of 2004, 32.7 percent more than a year earlier, the Federal State Statistics Service of the Russian Federation reported.

In June 2004, the average actual price of oil exports was $217.3 per ton, 19.7 percent more than in June 2003 and 0.6 percent more than in May 2004. The price for Urals oil was $234.3 per ton in June 2004, which is 13.5 percent more than in June 2003 and 9.3 percent less than in 2004.

Oil exports accounted for 28.4 percent of Russia's total exports in the first half of 2004, and made up 52 percent of the fuel and energy exports, against 28.5 percent and 49 percent in the first half of 2003.

According to the Federal State Statistics Service, Russia's oil output increased 10.3 percent to 223.5m tons in January-June 2004, and oil exports rose 4.2 percent to 110.2m tons.

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