Last Updated :
03 November 2009 at 15:00 IST
Russia oil output hits 10 million barrels per day
MOSCOW (Commodity Online) : World’s largest oil producer, Russia’s crude oil output increased 0.8%, year-on-year, in January-October 2009 to 410.3 million metric tons (10 million barrels per day).
In a report issued here, Russian energy ministry said country’s oil exports increased 2.6% in the reporting period to 203.9 million metric tons (1.5 billion barrels), crude oil supplies for refining in Russia declined 0.9% to 195.6 million metric tons (1.4 billion barrels) while primary refining dropped 0.6% to 195.2 million metric tons (1.4 billion barrels).
Russia's oil output declined 0.7% in 2008 from a year earlier to 488 million metric tons (9.8 million barrels per day).
The Economic Development Ministry projects oil output in Russia to stabilize at 490 million metric tons (9.84 million barrels per day) in 2009-2012. Oil output in 2009 is expected to reach 492-493 million metric tons (9.88-9.9 million barrels per day).
Russia's oil exports are expected to rise to 246 million metric tons (1.8 billion barrels) in 2009 from 243.1 million metric tons (1.78 billion barrels) in 2008 and remain at 245.8 million metric tons (1.8 billion barrels) in 2010-2011. Oil exports are expected to decline to 241.8 million metric tons (1.77 billion barrels) in 2012.
Russia's natural gas output declined 16.7%, year-on-year, in January-October 2009 to 460.31 billion cubic meters, with gas exports down 21.3% to 123.64 billion cubic meters, the ministry said.
Russian energy giant Gazprom's natural gas output contracted 20.6% in the reporting period to 364.18 billion cubic meters, the ministry said.
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.
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