Russia's oil output up

September 3, 2009

Russia's oil output up 0.4% to 2.4 bln bbls in January-August 

 Russia's crude oil output increased 0.4%, year-on-year, in January-August 2009 to 326.65 million metric tons (2.4 billion barrels), the Energy Ministry said . Russian oil exports grew 2.1% in the reporting period to 162.79 million metric tons (1.19 billion barrels).

 At the same time, crude oil supplies for refining in Russia declined 0.6% to 156.85 million metric tons (1.15 billion barrels) while primary oil refining remained unchanged from last year at 156.79 million metric tons (1.14 billion barrels), the ministry 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 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.

Natural gas output declined 19.1% in January-August 2009 year on year to 359.59 billion cubic meters (bcm), the ministry said. Russia's Economic Development Ministry expects natural gas production to reach 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.   -Соpyright 2009, RIA Novosti. All rights reserved.