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RIA Novosti

Business

Russia's oil output up 0.8% to 3 bln bbls in January-October

oil
13:56 17/11/2009

Russia's crude oil output (including gas condensate), expanded 0.8%, year-on-year in January-October 2009 to 410 million metric tons (3 billion barrels), the country's top statistics body Rosstat said on Tuesday.

In October, crude production grew 2.4%, year-on-year, and declined 3.8%, month-on-month, Rosstat said.

Russia's oil output declined 0.7% in 2008 from a year earlier to 488 million metric tons (3.58 billion barrels). The Economic Development Ministry projects oil production to amount to about 488 million metric tons in 2009, 485 million metric tons (3.56 billion barrels) in 2010, 483 million metric tons (3.54 billion barrels) in 2011 and to stabilize at this level in 2012.

Oil exports are expected to hit 245.5 million metric tons (1.79 billion barrels) in 2009, 243-246 million metric tons (1.78-1.8 billion barrels) in 2010, 241-247 million metric tons (1.76-1.81 billion barrels) in 2011 and 238-245 million metric tons (1.74-1.79 billion barrels) in 2012.

Russia's natural gas production declined 17.2% year-on-year in January-October 2009 to 457 billion cubic meters, Rosstat said.

In October, gas output in Russia grew 24.4%, month-on-month, and declined 0.2%, year-on-year, Rosstat said.

Rosstat's data slightly differs from the figures earlier announced by the Energy Ministry, which reported that natural gas output had dropped 16.7% year-on-year in January-October to 460.3 billion cubic meters, with gas exports down 21.3% to 123.64 billion cubic meters.

The Energy Ministry forecasts natural gas output in Russia to hit 620-644 billion cubic meters in 2009, 596 billion cubic meters in 2010, 610 billion cubic meters in 2011 and 621 billion cubic meters in 2012.

MOSCOW, November 17 (RIA Novosti)

 

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RIA NovostioilRussia's oil output up 0.8% to 3 bln bbls in January-October

13:56 17/11/2009 Russia's crude oil output (including gas condensate), expanded 0.8%, year-on-year in January-October 2009 to 410 million metric tons (3 billion barrels), the country's top statistics body Rosstat said on Tuesday.>>

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