Sunday, January 2, 2011

Russian oil output hits post-Soviet record

Oil storage tanks are seen at a Transneft transfer station Starolikeyevo, in Kstovo, near Nizhny Novgorod, Russia, in this file photo. Russian crude oil output in 2010 rose 2.2 percent to 10.15 million barrels a day, the highest annual average since the collapse of the Soviet Union in 1991. Bloomberg photo

Oil storage tanks are seen at a Transneft transfer station Starolikeyevo, in Kstovo, near Nizhny Novgorod, Russia, in this file photo. Russian crude oil output in 2010 rose 2.2 percent to 10.15 million barrels a day, the highest annual average since the collapse of the Soviet Union in 1991. Bloomberg photo
Russia, the world’s largest oil producer, set a post-Soviet record for yearly crude output in 2010, even as the country’s production in December slipped from the previous month.
Russian output last year rose 2.2 percent to 10.15 million barrels a day, the highest annual average since the collapse of the Soviet Union in 1991, the Energy Ministry’s CDU-TEK statistics unit said in a statement Sunday. Russia produced 9.93 million barrels a day in 2009.
Output in December fell 0.6 percent to 10.18 million barrels a day compared with 10.24 million barrels a day in the previous month, according to the statistics. By comparison, Saudi Arabia produced 8.25 million barrels a day in December.
Rosneft, Russia’s largest oil producer, began pumping in August from the Siberian Vankor deposit, the country’s largest new project. Rosneft’s Vankor unit produced over 255,000 barrels a day in December, the ministry’s statistics unit said.
Prime Minister Vladimir Putin said on Oct. 28 in the central city of Samara that Russia can produce 10 million barrels a day for at least a decade.
The country’s annual production of natural gas grew by 12 percent to 650.3 billion cubic meters last year against 582 billion cubic meters in 2009, the statistics unit said. Russia holds the world’s biggest gas reserves and is a major supplier of the fuel to Europe.
Russian gas output increased in December to an average of 2.03 billion cubic meters a day from 2.02 billion cubic meters a day the same month a year ago, according to the statistics.
Because gas output in Russia is seasonal and can vary widely throughout a year, 12-month comparisons are more meaningful than those made from one month to the next.
Gazprom, Russia’s gas exporter, produced 1.60 billion cubic meters a day in December compared with 1.63 billion cubic meters a day a year ago, for a year-on-year decrease of 1.9 percent. Gazprom produced 508 billion cubic meters of the fuel in 2010, up 10 percent from the previous year, as demand picked up after the global crisis.

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