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
Russian oil production stands at 329.2 million tonnes this year

Production of oil, excluding condensate, amounted to 329.2 million 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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