Revenue growth by segments was due to the impact of external and internal circumstances.
In the oil sector, there was an increase in crude oil export sales volumes in 2023, which compensated for the drop in Brent crude oil prices to USD 82.6/barrel from USD 101.3/barrel in 2022. Sales of refined products decreased as a result of lower prices and lower refining volumes. Railway cargo transportation increased due to higher transit traffic and higher revenues from freight car fleet operations. Sales of refined gas products increased due to higher export sales of gas, while sales of uranium products increased due to higher spot prices for U3O8 and higher sales volumes as a result of additional customer requests for increased annual deliveries under existing contracts as well as new long-term supply contracts. Oil and gas transportation also increased due to higher volumes of crude oil transported by pipeline and sea routes. The growth in the electricity sector was due to the increase in tariffs from June 2023. Refined gold sales decreased due to lower supplies of gold-containing raw materials, while telecommunication services showed an increase in data services revenue. The increase in postal services revenue was primarily due to increased revenue from expedited mail, parcel post, and specialty communications services.
More detailed information is provided in the Fund's financial statements for 2023 (Annex 1).
