The Russian Energy Ministry has announced its forecasts for national oil extraction in 2012, expecting its rate to reach 516 million tonnes to 518 million tonnes.

The ministry had earlier expected 514 million tonnes to be extracted this year. The indicator this year will exceed the last year’s by 1.2%.

The global goal is to keep extraction at 505 million tonnes to 510 million tonnes average. The higher rate will demonstrate efficiency of stimulation such as the 60/66 system.

Source - Vestnikkavkaza.net

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