Russia should keep oil output at 2010 level of 505 million tonnes per year - Putin

February 14, 2011
Interfax cites Russian Prime Minister Vladimir Putin as saying that Russia should keep oil production at the 2010 level of 505 million tons in the years to come.

He said that this is the ideal volume, which covers both internal and export needs. He added that "We need to keep to this level of production in the coming years."

The Central Dispatching Department of the Fuel and Energy Complex has said Russia produced 505.193 million tons of oil and gas condensate in 2010, 2.2% more than in 2009. Gas production rose 11.6% to 650.311 billion cubic meters.

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