Russia's oil revenues increased by 26.6 percent while natural gas revenues rose 22.1 percent in 2017 compared to the same period of 2016, according to data from the Federal Customs Service of Russia on Wednesday.
Oil revenues in Russia last year reached $93.3 billion. Revenues from natural gas exports also increased to $38.1 billion over the same period.
Russia's natural gas exports volume also increased by 5.7 percent to $210.2 billion in the January-December period.
However, the country's oil exports volume decreased 0.8 percent to 252.5 million tons.
Russia agreed to cut 300,000 barrels of daily oil production in line with the Organization of Petroleum Exporting Countries' (OPEC) latest accord in May 2017.
Reporting By Emre Gurkan Abay in Moscow
Writing By Gulsen Cagatay