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Russian oil exports up 17.7% in Jan. 2007, y-o-y

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Russia's oil exports to non-CIS countries reached 19.32 million metric tons (more than 144 million barrels) in January 2007, up 17.7%, year-on-year, the Industry and Energy Ministry said Tuesday.
MOSCOW, February 20 (RIA Novosti) - Russia's oil exports to non-CIS countries reached 19.32 million metric tons (more than 144 million barrels) in January 2007, up 17.7%, year-on-year, the Industry and Energy Ministry said Tuesday.

The ministry said oil exports to the Commonwealth of Independent States (CIS), a loose association of former Soviet republics, especially to Belarus, fell by 27.8%, to 2.26 million tons (some 17 million barrels).

Belarus imposed a transit levy of $45 per metric ton of crude after Moscow doubled the price of natural gas and introduced a duty on oil supplies to Belarus as of January 1.

The ministry also said oil production grew by 4.4%, natural gas by 0.5%, coal by 4.8% and electricity at hydroelectric power plants by 16.2% in January 2007.

But the production of electricity at nuclear power plants fell by 4.4%.

The production of oil with gas condensate stood at 41.65 million tons (311 million barrels) in January, adding that LUKoil, Rosneft, TNK-BP, Surgutneftegaz and Gazprom Neft boasted the largest production volumes.

Russia's industrial output grew by 8.4% in January 2007, year-on-year, the ministry said.

Manufacturing increased by 17.3%, food industry by 24.6%, production of leather and shoes by 33.8% and building materials by 36.3%

The ministry said manufacturing growth is caused by a slow increase in the production of mineral resources (4.2%) and the reduced production of water, electricity and gas due to the unusually warm weather.

Under the forecast of Russia's socio-economic development until 2009, industrial growth in 2007 is expected to reach 4.2% as compared to 3.9% in 2006, the ministry added.

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