According to the Vedomosti news, Russian oilfield service businesses experienced record profits in 2022 as a result of significant international competitors leaving the market as a result of Moscow's invasion of Ukraine. Russian oilfield services earned 1.79 trillion rubles (USD 22.2 billion) in 2022, the greatest since at least 2018, according to figures from Kasaktin Consulting reported by Vedomosti.

According to Vedomosti, the departure of American firms Baker Hughes and Halliburton is the main reason why the international presence in the Russian oilfield services sector has decreased from 15% to 9%.  Well maintenance and repair, which climbed 24% in value to be worth 293 billion rubles (USD 3.6 billion), was one of the sectors that witnessed the largest development for Russian businesses, according to Vedomosti.  To reach 609 billion rubles (USD 7.5 billion), drilling saw a roughly 16% rise. Hydraulic fracturing (90 billion rubles) and exploration (249 billion rubles) then experienced over 14% growth apiece. According to the Energy Ministry of Russia, oil output rose 2% to 535 million tons in 2022. After Deloitte, a British accounting firm, left the nation during the invasion of Ukraine, a Russian-owned company, Kasaktin Consulting, took its place. As reported by Vedomosti, analysts predict that the Russian oilfield services industry would shrink by 6% in 2023 to reach 1.68 trillion rubles (USD 20.8 billion), as a result of the country's reduced oil output in reaction to Western oil embargoes and price controls.

According to numbers from the Federal Tax office cited by the Vedomosti newspaper on June 2023, export profits from Russian oil and gas sales increased in June compared to the same month last year due to increasing prices and declining quantities. Around 40% of the Russian state finances are predicted to come from oil and gas sales in 2022, which is critical given the Western sanctions put in place after Moscow pushed soldiers into Ukraine on February 24. Since April, when it began what it refers to as the "special military operation" in Ukraine, the Russian government has published fewer information on oil and gas output.

The tax office reports, from more over 1 trillion roubles in May, gas export receipts decreased in June to 633 billion roubles (USD10.75 billion). It stated that the revenues decreased from USD 16.2 billion in May to USD 11.1 billion in June in U.S. dollars. However, the newspaper quoted Valery Vaisberg, an analyst with IK Region brokerage, who said that Russian gas exporting income increased five times year over year in May and three times year over year in June, both compared to the same month in 2021.