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Russian oil output increases in 10 months
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Sunday, 08 Nov 2009
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RIA Novosti quoted the Energy Ministry said Russia crude oil output increased 0.8%YoY in January to October 2009 to 410.3 million tonnes.

The ministry said Russia oil exports increased 2.6% in the reporting period to 203.9 million tonnes, crude oil supplies for refining in Russia declined 0.9% to 195.6 million tonnes while primary refining dropped 0.6% to 195.2 million tonnes.

Russia's oil output declined 0.7% in 2008 from a year earlier to 488 million metric tons. The Economic Development Ministry projects oil output in Russia to stabilize at 490 million tonnes in 2009 to 2012. Oil output in 2009 is expected to reach 492 million tonnes to 493 million tons.

Russia oil exports are expected to rise to 246 million tonnes in 2009 from 243.1 million tonnes in 2008 and remain at 245.8 million tonnes in 2010 to 2011. Oil exports are expected to decline to 241.8 million tonnes in 2012.

The ministry said Russia's natural gas output declined 16.7%YoY in January to October 2009 to 460.31 billion cubic meters with gas exports down 21.3% to 123.64 billion cubic meters. It said Russian energy giant Gazprom natural gas output contracted 20.6% in the reporting period to 364.18 billion cubic meters.

The Economic Development Ministry projects natural gas output in Russia to reach 580 billion cubic meters in 2009, rise to 623 billion cubic meters in 2010, 634 billion cubic meters in 2011 and 649 billion cubic meters in 2012.

Russia's natural gas exports are predicted to contract to 161.9 billion cubic meters in 2009 from 195.4 billion cubic meters in 2008, rebound to 190.3 billion cubic meters or almost the pre-crisis level in 2010, and expand to 193.8 billion cubic meters in 2011 and 203.2 billion cubic meters in 2012.

(Sourced from RIA Novosti)

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