Russia ups oil, gas output

Russia has increased production of oil and gas condensate by 9.6% in the first nine months of the year to 341 million tonnes from the same period last year.

    Russian oil production stands at 329.2 million tonnes this year

    Production of oil, excluding condensate, amounted to 329.2 m

    illion tonnes, according to federal

    statistics reported by Interfax

    news agency on

    Thursday.

    Production of gas rose by 2.59% to 464.9 billion cubic

    metres.

    And production by Gazprom alone rose by 1.4% to 394.6

    billion cubic metres.

    The rate of growth of Russian oil output has slowed slightly

    from the rate last year when output grew by 11.0% to 421

    million tonnes. In the first half of this year it grew by 10.3%

    .

    Yukos remained the biggest producer in the first nine months,

    turning out 63.7 million tonnes, an increase of 8.2%,

    followed by LUKoil which produced 62.4 million tonnes, an increase

    of 6.4%.

    Surgutneftegaz was in third place with 43.9 million tonnes, an

    increase of 10.1% in the nine months, followed by TNK with

    36.8 million tonnes, an increase of 15.3%, and then Sibneft

    with 25.3 million tonnes, a rise of 9.4%.

    SOURCE: AFP


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